Company: NKLR
Filing Date: 2025-09-11
Form Type: S-4/A
Source: 0001213900-25-086741
Chunk: 263

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-11
Form: S-4/A
Chunk 263
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ings 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 Shares held in connection with a business activity, are included in the recipient’s overall taxable income for the entire amount in the tax year in which they are realized, subject to income tax at ordinary rates, and are reported in the recipient’s income tax return. However, if the conditions indicated in the following paragraph for the Participation Exemption Regime (as defined below) provided for capital gains realized by Italian resident companies and commercial entities were satisfied, these capital gains would be subject to tax only partially, in an amount equal to 58.14% of the capital gains. In this event, any relating capital losses would be deductible for a corresponding amount. Companies and other business entities referred to in Article 73(1)(a)(b) CITA Capital gains realized by Italian -residentcompanies, private and public entities (other than companies) and trusts whose sole or main purpose is to carry out a business activity, are included in their taxable income and are subject to IRES according to the ordinary rules. If the Orindary Shares were held and accounted for as fixed financial assets in the three -yearperiod preceding the disposal, the shareholder may elect to spread any realized gain on a straight -linebasis across the five -yearperiod commencing in the tax year in which the gain is realized. However, capital gains arising from the disposal of the Ordinary Shares are tax -exemptfor 95% of such capital gains (under the so called “ Participation Exemption Regime”), whereas the remaining 5% is included in the shareholders’ taxable income and is subject to IRES, provided that the following conditions are met: a)The shareholding must be held, without interruption, from the first day of the twelfth month preceding the month in which the sale occurs (the most recently purchased shares being deemed to have been sold first); and b)The shareholding must be accounted for in the financial statements of the shareholder as a fixed financial asset in the first year of the holding period. For companies that prepare their financial statements in accordance with the international accounting standards (IAS/IFRS), the shares not accounted as “held for trading” are