Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 120

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 120
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 other disposition of such securities will be in U.S. dollars.

Antelope Enterprises has not sought,
and will not seek, a ruling from the Internal Revenue Service, or “IRS,” or an opinion of counsel, as to any U.S. federal
income tax consequence described herein. The IRS may disagree with the description herein, and its determination may be upheld by a court.
Moreover, there can be no assurance that future legislation, regulations, administrative rulings or court decisions will not adversely
affect the accuracy of the statements in this discussion.

| 68 |

U.S. Holders

Taxation of Cash Distributions Paid on Shares

Subject to the passive foreign
investment company, or “PFIC,” rules discussed below, a U.S. Holder generally will be required to include in gross income
as ordinary income the amount of any cash dividend paid on the shares of Antelope Enterprises. A cash distribution on such shares generally
will be treated as a dividend for U.S. federal income tax purposes to the extent the distribution is paid out of current or accumulated
earnings and profits of Antelope Enterprises (as determined for U.S. federal income tax purposes). Such dividend generally will not be
eligible for the dividends received deduction generally allowed to U.S. corporations in respect of dividends received from other U.S.
corporations. The portion of such cash distribution, if any, in excess of such earnings and profits will be applied against and reduce
(but not below zero) the U.S. Holder’s adjusted basis in its shares in Antelope Enterprises. Any remaining excess generally will
be treated as gain from the sale or other taxable disposition of such shares.

With respect to non-corporate
U.S. Holders, such dividends may be subject to U.S. federal income tax at the lower applicable regular long-term capital gains tax rate
(see “—Taxation on the Disposition of Securities” below) provided that (1) the shares of Antelope Enterprises are readily
tradable on an established securities market in the United States or, in the event Antelope Enterprises is deemed to be a Chinese “resident
enterprise” under the EIT Law, Antelope Enterprises is eligible for the benefits of the Agreement between the Government of the
United States of America and the Government of the People’s Republic of China for the Avoidance of Double Taxation and the Prevention
of Tax Evasion with Respect to Taxes on Income, or the “U.S.-PRC Tax Treaty,” (2) Antelope Enterprises is not