Company: NKLR
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001213900-25-063846
Chunk: 257

Company: Terra Innovatum Global N.V.
Filing Date: 2025-07-15
Form: S-4/A
Chunk 257
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 are not subject to tax in Italy. The tax regime described above will not prevent the application, if more favorable to the taxpayer, of any different provisions of any applicable convention against double taxation with Italy. Most conventions against double taxation entered into by Italy provide that capital gains realized on the disposal of shares are subject to tax only in the country of residence of the seller. In such cases, the capital gains realized by non -residentshareholders on the disposal of the Ordinary Shares will not be subject to tax in Italy. In order to benefit from exemption under conventions against double taxation entered into by Italy, non -Italian -residentshareholders may need to file a certificate evidencing their residence outside of Italy for tax purposes. Capital gains realized by non -residentshareholders holding the shareholding through a permanent establishment in Italy are included in the permanent establishment’s overall taxable income and are subject to tax in Italy in accordance with the tax regime indicated above for capital gains realized by Italian resident companies or commercial entities. Transfer Tax Contracts or other legal instruments relating to the transfer of securities (including the transfer of the Ordinary Shares) are subject to registration tax as follows: (i) notary deeds ( atti pubblici) and private deeds with notarized signatures ( scritture private authenticate) executed in Italy must mandatorily be registered with the Italian tax 112 authorities and are subject to €200.00 registration tax; and (ii) private deeds ( scritture private) are subject to €200.00 registration tax only if they are voluntary filed for registration with the Italian tax authorities or if the so -called“caso d’uso” or “enunciazione” occurs. Financial Transaction Tax Article 1(491 -500) of Law No. 228 of December 24, 2012 introduced a financial transaction tax (FTT) applicable, among others, to the transfers of the ownership of (i) shares issued by Italian resident corporations, (ii) participating financial instruments (as defined under Article 2346(6) of the Italian Civil Code) issued by Italian resident corporations, and (iii) securities representing equity investments in Italian resident corporations, regardless of the place of residence of the issuer of such securities and of the place where the contract has been concluded. The residence of the issuer for the purposes of FTT is the place where the issuer has its registered office (intended as its corporate seat). Since the corporate seat of PubCo is not in Italy, transfers of ownership of the Ordinary Shares