Company: NKLR
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001213900-25-063846
Chunk: 255

Company: Terra Innovatum Global N.V.
Filing Date: 2025-07-15
Form: S-4/A
Chunk 255
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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 deemed as fixed financial assets. Capital losses realized on the disposal of Ordinary Shares recorded as financial fixed assets in the first year of the holding period are disallowed for tax purposes if the shareholding has been held, without interruption, from the first day of the twelfth month preceding the month in which the sale occurs. In any other case, capital losses arising from the sale of the Ordinary Shares are generally fully deductible except for an amount equal to the non -taxabledividends (or interim dividends) received in the 36 months preceding the sale, with respect to Ordinary Shares acquired in the 36 months preceding the sale. Such limitation does not apply to those entities applying the international accounting standards (IAS/IFRS). Capital losses in excess of €50 thousand must be reported to the Italian tax administration together with other additional information, as set forth in the implementing measures adopted by the tax authorities with Rulings of March 29, 2007 and of July 13, 2007. Such an obligation does not apply to entities preparing their financial statements in accordance with the international accounting standards (IAS/IFRS). Moreover, the data and the information relating to capital losses in excess of €5 million, deriving from the sales of shares accounted for as fixed financial assets, must be included in the recipient’s tax return. Capital gains on the Ordinary Shares realized by certain companies and commercial entities (e.g., banks and insurance companies) may also be subject to IRAP. Non-Business Entities Capital gains on Ordinary Shares held by Italian -residentpublic or private non -commercialentities and trusts aresubject to the tax regime described in connection with capital gains realized by Italian resident individualshareholders otherwise than in connection with a business activity . 111 Pension funds Capital gains on