Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 276

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 276
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 accounts persons that elect to mark their securities to market for U. S. federal income tax purposes and persons holding securities as a position in a synthetic security, straddle or conversion transaction) may be subject to special rules not discussed below, and are advised to consult their usual tax advisor regarding the specific tax consequences which may apply to their particular situation.

U. S. Holders are advised to consult their own tax advisor regarding the tax consequences of the purchase, ownership and disposition of securities in light of their particular circumstances, especially with regard to the “ Limitations on Benefits” provision contained in the U. S.-France Tax Treaty.

Tax on Sale or other Disposals

As a matter of principles, under French tax law subject to limited exemptions, and to the extent Innate is not a real estate company for the purpose of Article 244 bis A of the French Tax Code (Code général des impôts, the “ FTC”), a U. S. Holder should not be subject to any French tax on any capital gain from the sale, exchange, repurchase or redemption by Innate of ordinary shares or ADSs, provided such U. S.

Holder is not a French tax resident for French tax purposes and has not held more than 25% of the dividend rights, known as “ droits aux bénéfices sociaux,” at any time during the preceding five years, either directly or indirectly, and, as relates to individuals, alone or with relatives it has not transferred ordinary shares or ADSs as part of redemption by Innate, in which case the proceeds may under certain circumstances be partially or fully characterized as dividends under French domestic law and, as result, be subject to French dividend withholding tax.

As an exception, a U. S. Holder resident established or incorporated in certain non-cooperative States or territories as defined in Article 238-0 A of the FTC should be subject to a 75% withholding tax in France on any such capital gain, regardless of the fraction of the dividend rights it holds, subject to safe-harbor provisions and the more favorable provisions of the U. S.-France Tax Treaty. The list of non-cooperative State or territory is published by decree and is in principle updated annually. This list was last updated on 16 February 2024, and currently includes American Samoa, Anguilla, Antigua and Barbuda, the Bahamas, Belize, Fiji, Guam, Palaos, Panama, Russia, Samoa, Seychelles, Trinidad and Tobago, Turk and Caicos, the United