Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 208

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 10
Chunk 208
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of

the

U. S.

Internal

Revenue

Code

of

1986,

as

amended

(the

“ Code”),

existing

and

proposed

U. S.

Treasury

Department

regulations,

(the

“ Treasury

Regulations”),

administrative

rulings,

pronouncements

and

judicial

decisions,

all

as

of

the

date

of

this

Annual Report.

This discussion assumes that we do not have an office or other fixed place of business

in

the United States. Unless the context otherwise

requires, the reference to Company below

shall be meant

to refer to both the Company and its vessel-owning and operating

subsidiaries.

Taxation of the Company’s Shipping Income

In General

The Company anticipates that it will derive substantially

all of its gross income from the use and operation

of

vessels

in

international

commerce

and

that

this

income

will

principally

consist

of

freights

from

the

transportation

of

cargoes,

hire

or

lease

from

time

or

voyage

charters

and

the

performance

of

services

directly related thereto, which the Company refers to as “ Shipping

Income.”

Shipping Income that is attributable

to transportation that begins or

ends, but that does not

both begin and

end,

in

the

United

States

will

be

considered

to

be

50%

derived

from

sources

within

the

United

States.

Shipping

Income

attributable

to

transportation

that

both

begins

and

ends

in

the

United

States

will

be

considered to be

100% derived from

sources within the

United States. The

Company is not

permitted by

law

to

engage in

transportation that

gives rise

to

100% U. S. source

Shipping Income.

Shipping Income

attributable to

transportation exclusively

between non-U. S. ports

will be

considered to

be

100% derived

102

from sources outside the United States. Shipping Income

derived from sources outside the United States

will not be subject to U. S. federal income tax.

Based upon the

Company’s anticipated

shipping operations,

the Company’s vessels

will operate

in