Company: NKLR
Filing Date: 2025-09-03
Form Type: S-4/A
Source: 0001213900-25-084087
Chunk: 261

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-03
Form: S-4/A
Chunk 261
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ersor other authorized intermediaries, and the shareholder makes an election in writing for this regime. The intermediary with whom the Ordinary Shares are deposited applies and pays the substitute tax with respect to each sale resulting in a capital gain. Where a sale results in a net capital loss, the intermediary is entitled to deduct such capital loss from capital gains of the same nature subsequently realized on assets held by the shareholder on the same deposit account in the same tax year and/or in tax years following the tax year in which the loss is realized up to the fourth; and •Discretionary investment portfolio regime (“ Regime del risparmio gestito”): this regime applies if the Ordinary Shares are included in a portfolio managed by a duly authorized financial intermediary. Under this regime, any income realized in connection with the Ordinary Shares, including accrued dividends and capital gains accrued but not yet cashed, is included in the net annual results accrued under the portfolio management. The annual net accrued portfolio result is subject to 26% substitute tax, which is levied by the portfolio management company. Any investment portfolio losses accrued at year -endmay be carried forward and offset against net profits accrued in the tax years following the one in which the loss is accrued up to the fourth. Under the second and third regimes above, the shareholder is not required to report the capital gains/losses in his or her annual income tax return. Under the tax return regime, capital gains are computed on a last in first out (so -called“LIFO”) basis. Under the non -discretionaryinvestment portfolio regime capital gains are computed on a weighted average cost basis. Under both regimes capital gains are equal to the difference between the consideration received and the tax basis held in the Ordinary Shares, increased by the expenses incurred to make the investment (other than interest expense). Moreover, subject to certain conditions and requirements (including a five -yearminimum holding period), and several limitations (including amount and composition of the capital investment), Italian resident individuals not holding the Ordinary Shares in connection with a business activity, may be exempt from any taxation on capital gains realized on the Sale of a Non -QualifiedHoldings if the Ordinary Shares are included in a long -termindividual savings account ( piano individuale di risparmio a lungo termine) that meets the requirements from time to time applicable as set forth by Italian law. 112 Individuals engaged in business activity and partnerships and similar entities Capital gains realized by Italian resident partnerships and similar entities or Italian -residentindividuals on the sale or disposal of the Ordinary