Company: NKLR
Filing Date: 2025-05-14
Form Type: S-4
Source: 0001213900-25-043376
Chunk: 230

Company: Terra Innovatum Global N.V.
Filing Date: 2025-05-14
Form: S-4
Chunk 230
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 provided that(i) they are established in Italy and (ii) the investment fund, SICAV, SICAF or their manager is subject to the supervision of a regulatory authority. These dividends are included in the results of the investment fund, SICAVs or SICAFs, which are not subject to tax at the level of the investment fund, SICAV or SICAF, but a withholding tax at 26% rate may apply, in certain circumstances, to distributions made in favor of certain categories of unitholders or shareholders of the investment fund, SICAV or SICAF. Real estate Investment Funds and Real Estate SICAFs Dividends received by Italian -residentreal estate investment funds established pursuant to Article 37 of Legislative Decree No. 58 of 24 February 1998, as amended and supplemented, or pursuant to Article 14 -bisof Law No. 86 of 25 January 1994 (“ Real Estate Investment Funds”), and by Italian real estate SICAFs (“ Real Estate SICAFs”) are not subject to any withholding 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