Company: NKLR
Filing Date: 2025-09-03
Form Type: S-4/A
Source: 0001213900-25-084087
Chunk: 255

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-03
Form: S-4/A
Chunk 255
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ors Dividends paid to Italian resident individuals who hold the Ordinary Shares in connection with a business activity (Sole Proprietors) are not subject to any tax withheld at source in Italy, provided that, in this case, the holders declare at the time of receipt that the profits collected are from holdings connected with their business activity. In this case, dividends must be reported in the income tax return, but only 58.14% of such dividends are included in the holder’s overall business income taxable in Italy. Partnerships (Italian “società in nome collettivo,” “società in accomandita semplice,” “società semplice” and similar Italian partnerships as referred to in Article 5 CITA) No Italian tax is withheld at source on dividends paid to Italian business partnerships (such as Italian società in nome collettivo, società in accomandita sempliceand similar partnerships as referred to in Article 5 CITA). Only 58.14% of such dividends is included in the overall business income to be reported by the business partnership. If it is instead a non -businesspartnership ( società semplice), based on Article 32 - quarterof Law Decree No. 124 of October 26, 2019, as subsequently amended and supplemented, dividends are deemed to be received on a tax transparency basis by the partners and are subject to tax under the tax regime applicable to the relevant partner ( i.e., as if they were directly paid to each partner). Companies and other business entities referred to in Article 73(1)(a)-(b) CITA No Italian tax is withheld at source on dividends paid to Italian resident companies and other Italian resident business entities as referred to in Article 73(1)(a)-(b) CITA, including, among others, corporations ( società per azioni), partnerships limited by shares ( società in accomandita per azioni), limited liability companies ( società a responsabilità limitata) and public and private entities whose sole or primary purpose is to carry out business activities. Only 5% of such dividends are included in the overall business income subject to IRES, unless the Ordinary Shares are financial assets held for trading by holders that apply IAS/IFRS international accounting standards. In this latter case, the full amount of the dividends is included in the holder’s overall business income subject to IRES. For some types of companies and under certain conditions, dividends are also partially included in the net value of production