Company: NKLR
Filing Date: 2025-08-01
Form Type: S-4/A
Source: 0001213900-25-070223
Chunk: 259

Company: Terra Innovatum Global N.V.
Filing Date: 2025-08-01
Form: S-4/A
Chunk 259
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 Estate SICAFs Capital gains on Ordinary Shares held by Real Estate Investment Funds and Real Estate SICAFs are subject to the same tax regime described under the paragraph relating to the taxation regime of dividends received by such entities, above. NON-ITALIAN RESIDENT PERSONS Capital gains realized by non -Italian -residentshareholders without a permanent establishment in Italy, to which the relevant Ordinary Shares are effectively connected, from the: (a)Sale of a Non -QualifiedHolding in Italian companies listed on a regulated market, such as the Issuer, are not subject to taxation in Italy, regardless of the provisions set forth in any applicable double tax treaty. In order to benefit from this exemption, such non -Italian -residentpersons may need to file a certificate evidencing their residence outside of Italy for tax purposes; (b)Sale of a Qualified Holding, are subject to the same 26% substitute tax regime described above for Italian resident individuals not engaged in a business activity. However, if the conditions provided for the Participation Exemption Regime summarized above are met, as to capital gains realized upon the sale or disposal of a Qualified Holding by non -Italianresident companies and entities referred to in Article 73(1)(d) TUIR, that do not have a permanent establishment in Italy to which the Ordinary Shares are effectively connected and are resident for tax purposes in an EU Member State or in a state that is party to the EEA and is included in the White List, the 26% substitute tax applies only on 5% of capital gains realized. Moreover, capital gains realized by undertakings for collective investment complying with UCITS Directive, and by undertakings for collective investment which do not comply with UCITS Directive, but whose manager is subject to regulatory supervision in the foreign country in which it is established in accordance with AIFM Directive, which are established in an EU Member States or an EEA state included in the White List, are not subject to tax in Italy. The tax regime described above will not prevent the application, if more favorable to the taxpayer, of any different provisions of any applicable convention against double taxation with Italy. Most conventions against double taxation entered into by Italy provide that capital gains realized on the disposal of shares are subject to tax only in the country of residence of the seller. In such cases, the capital gains realized by non -residentshareholders on the disposal of the Ordinary Shares will not be subject to tax in Italy. In order to benefit from exemption under conventions against double