Company: NKLR
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087981
Chunk: 255

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-16
Form: 424B3
Chunk 255
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 or substitute tax at the level of the Real Estate Investment Funds or Real Estate SICAFs, but a withholding tax of 26% may apply, in certain circumstances to distributions made in favor of certain categories of investors. In certain cases, a tax transparency regime may apply in respect of certain categories of investors owning more than 5% of the Italian Real Estate Investment Fund’s or Real Estate SICAF’s units or shares. TAXATION OF HOLDERS OF ORDINARY SHARES NOT TAX RESIDENT IN ITALY Non-resident persons holding the Ordinary Shares through a permanent establishment in Italy No Italian tax is withheld at source on dividends paid to non -residentpersons that hold the Ordinary Shares through a permanent establishment in Italy to which the Ordinary Shares are effectively connected. Only 5% of the dividends are included in the overall income subject to IRES, unless the Ordinary Shares are financial assets held for trading by holders that apply IAS/IFRS international accounting. In this latter case, the full amount of the dividends is included in the overall business income subject to IRES. If the Ordinary Shares are held by a non -residentSole Proprietor through a permanent establishment in Italy to which the Ordinary Shares are effectively connected, only 58.14% of the dividends is included in the overall income subject to personal income tax. For some types of businesses and under certain conditions, dividends are also partially included in the net value of production, which is subject to IRAP. Non-Resident Persons that Do Not Hold the Ordinary Shares through a Permanent Establishment in Italy A 26% tax withheld at source generally applies on dividends paid to non -residentpersons that do not have a permanent establishment in Italy to which the Ordinary Shares are effectively connected. 110 Subject to a specific application that must be submitted to the Italian tax authorities under the terms and conditions provided by law, non -residentholders are entitled to relief (in the form of a refund), which cannot be greater than 11/26 (eleven twenty -sixths) of the tax levied in Italy, if they can demonstrate that they have paid final tax abroad on the same profits. Holders who may be eligible for the relief should consult with their own independent tax advisors to determine whether they are eligible for, and how to obtain, the tax refund. As an alternative to the relief described above, persons resident in Countries that have a double tax treaty in force with Italy may request that the withholding tax on dividends be levied at the (reduced) rate provided under the applicable tax