Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 277

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 277
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 pecuniary benefits
from shares (including bonus shares) are included in the tax base for only 70% of their value (“ Teilbesteuerung”), if the
investment amounts to at least 10% of nominal share capital of the Company. All Swiss cantons have introduced partial taxation measures
at cantonal and communal levels.

Swiss resident
individuals as well as non-Swiss resident individual taxpayers holding the common shares in connection with the conduct of a trade
or business in Switzerland through a permanent establishment or fixed place of business situated, for tax purposes, in Switzerland,
are required to recognize dividends, distributions based upon a capital reduction (“ Nennwertrückzahlungen”) and
reserves paid out of capital contributions (“ Reserven aus Kapitaleinlagen’) in their income statements for the relevant
tax period and are liable to Swiss federal, cantonal and communal individual or corporate income taxes, as the case may be, on any
net taxable earnings accumulated (including the payment of dividends) for such period. Furthermore, for the purpose of the Direct
Federal Tax, dividends, shares in profits, liquidation proceeds and pecuniary benefits from shares (including bonus shares) are
included in the tax base for only 70% (“ Teilbesteuerung”), if the investment is held in connection with the conduct of a
trade or business or qualifies as an opted business asset (“gewillkürtes Geschäftsvermögen”) according to
Swiss tax law and amounts to at least 10% of nominal share capital of the Company. All cantons have introduced partial taxation
measures at cantonal and communal levels.

Swiss resident corporate taxpayers
as well as non-Swiss resident corporate taxpayers holding the common shares in connection with the conduct of a trade or business through
a permanent establishment or fixed place of business situated, for tax purposes, in Switzerland, are required to recognize dividends,
distributions based upon a capital reduction (“ Nennwertrückzahlungen”) and reserves paid out of capital contributions
(“ Reserven aus Kapitaleinlagen”) in their income statements for the relevant tax period and are liable to Swiss federal, cantonal
and communal corporate income taxes on any net taxable earnings accumulated for such period. Swiss resident corporate taxpayers as well
as non-Swiss resident corporate taxpayers holding the common shares in connection with the conduct of a trade or business through a permanent
establishment or fixed place of business situated, for tax purposes,