Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 197

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 197
---
 with respect to the first year during which we were at any time a PFIC by filing IRS Form 8621 with the U.S. Holder’s U.S. federal income tax return. The QEF election is made on a shareholder-by-shareholder basis and can only be revoked with the consent of the IRS.

Notwithstanding any
election made with respect to our Common Shares, dividends received with respect to our shares will not constitute “qualified dividend
income” if we are a PFIC in either the year of the distribution or the preceding taxable year. Dividends that do not constitute
qualified dividend income are not eligible for taxation at the reduced tax rate discussed above in “Certain United States Federal Income Tax Considerations—Distributions Prior to the Domestication”. Instead, such dividends would be subject to tax
at ordinary income rates.

In order to comply
with the requirements of a QEF election, a U.S. Holder must receive certain financial information from US. If we determine that we are
a PFIC for any taxable year, we do not currently intend to provide the information that a U.S. holder making a QEF election is required
to obtain in order to make and maintain a QEF election. Therefore, U.S. Holders are urged to consult their own tax advisors concerning
the U.S. federal income tax consequences of holding our Common Shares if we are considered a PFIC in any taxable year and they are not
able to make or maintain a QEF election.

Information
Reporting and Backup Withholding

In general, information reporting may apply to dividends paid in respect of Common Shares and the proceeds received from the sale, exchange or other disposition of Common Shares within the United States unless a U.S. Holder is an exempt recipient. Backup withholding (currently at a 24% rate) may apply to such payments if a U.S. Holder fails to provide a taxpayer identification number or certification of exempt status or fails to report in full dividend and interest income. Backup withholding is not an additional tax. Any amounts withheld under the backup withholding rules may be allowed as a refund or credit against a U.S. Holder’s U.S. federal income tax liability, provided that the required information is furnished to the IRS in a timely manner.

Special U.S. income tax reporting requirements are imposed with respect to the holding of certain foreign financial assets, including stock of foreign issuers which is not held in an account maintained by certain financial institutions, if the aggregate value of all of such assets exceeds US$50,000 on the last