Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 100

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 10
Chunk 100
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 the mark-to-market election.
If a U. S. Holder makes a mark-to-market election in respect of a corporation classified as a PFIC and such corporation ceases to be classified
as a PFIC, the U. S. Holder will not be required to take into account the gain or loss described above during any period that such corporation
is not classified as a PFIC. If a U. S. Holder makes a mark-to-market election, any gain such U. S. Holder recognizes upon the sale or
other disposition of our Ordinary Shares in a year when we are a PFIC will be treated as ordinary income and any loss will be treated
as ordinary loss, but such loss will only be treated as ordinary loss to the extent of the net amount previously included in income as
a result of the mark-to-market election.

Because
a mark-to-market election cannot be made for any lower-tier PFICs that we may own, a U. S. Holder may continue to be subject to the PFIC
rules with respect to such U. S. Holder’s indirect interest in any investments held by us that are treated as an equity interest
in a PFIC for U. S. federal income tax purposes.

Furthermore,
as another alternative to the foregoing rules, a U. S. Holder that owns stock of a PFIC generally may make a qualified electing fund (“ QEF”)
election regarding such corporation to elect out of the PFIC rules described above regarding excess distributions and recognized gains.
If we are determined to be a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U. S. Holder of
our Ordinary Shares and the U. S. Holder did not make either (a) a timely QEF election under Section 1295 of the Code for our first taxable
year as a PFIC in which the U. S. Holder held (or was deemed to hold) our Ordinary Shares or (b) a QEF election along with a “purging
election,” both of which are discussed further below, such holder generally will be subject to special rules with respect to:

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  any                                                                                                                                    
  any                                                                                                                                    

Under
these rules,

  the                                                                                                                                     
  the                                                                                                                                     
  the                                                                                                                                     
  the                                                                                                                                     

In
general, if we are determined to be a PFIC, a U. S. Holder may avoid the PFIC tax consequences described above with respect to its Ordinary
Shares