Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 283

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 283
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 ( impôt sur la fortune immobilière or IFI). The scope of such new tax is narrowed to French real estate assets (and certain assets deemed to be real estate assets) or rights, held directly or indirectly through one or more legal entities and whose net taxable assets amount at least to €1,300,000.

Broadly, subject to provisions of double tax treaties and to certain exceptions, individuals who are not residents of France for tax purposes within the meaning of Article 4 B of the FTC are subject to the IFI in France in respect of the portion of the value of their shares of the company representing real estate assets (Article 965, 2° of the FTC). Some exceptions are provided by the FTC. In particular, Innate’s ordinary shares or ADSs owned by a U. S. Holder should not fall within the scope of the IFI provided that such U. S. Holder does not own (together with the members of his/her household) directly or indirectly a shareholding exceeding 10% of the financial rights and voting rights of Innate. U. S. Holders holding directly or indirectly a shareholding exceeding 10% of the financial rights and voting rights of Innate should seek additional advice.

Under the U. S.-France Tax Treaty (the provisions of which should be applicable to this IFI in France), the IFI will however generally not apply to securities held by an eligible U. S. Holder who is a U. S. resident, as defined pursuant to the provisions of the U. S.-France Tax Treaty, provided that such U. S. Holder (i) does not own directly or indirectly more than 25% of the issuer’s financial rights and (ii) that the ADSs do not form part of the business property of a permanent establishment or fixed base in France.

U. S. Holders are advised to consult their own tax advisor regarding the specific tax consequences which may apply to their particular situation with respect to such IFI.

F. Dividends and Paying Agents.

Not applicable.

G. Statement by Experts.

Not applicable.

H. Documents on Display.

The Company is subject to the information reporting requirements of the U. S. Securities Exchange Act of 1934, as amended, (the “ Exchange Act”) applicable to foreign private issuers and under those requirements will file reports with the SEC. Those reports may be inspected without charge at the locations described below. As a foreign private issuer, the Company is exempt from the rules under the