Company: NKLR
Filing Date: 2025-09-11
Form Type: S-4/A
Source: 0001213900-25-086741
Chunk: 267

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-11
Form: S-4/A
Chunk 267
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 6 per cent. inheritance and gift tax on the value of the inheritance or gift exceeding, for each beneficiary, Euro 100,000; and c)any other transfer is, in principle, subject to an inheritance and gift tax applied at a rate of 8 per cent. on the entire value of the inheritance or gift. If the transfer is made in favour of persons with severe disabilities, the tax is levied at the rate mentioned above in paragraphs (a), (b) and (c) on the value exceeding, for each beneficiary, Euro 1,500,000. Subject to certain conditions, no inheritance or gift tax applies on certain transfers of Ordinary Shares that qualify as, or allow to obtain, a controlling shareholding pursuant to Article 2359 (1) of the Italian Civil Code. The transfer of financial instruments (including the Ordinary Shares) as a result of death is exempt from inheritance tax when such financial instruments are included in a long -termindividual savings account ( piano individuale di risparmio a lungo termine) that meets the requirements from time to time applicable as set forth by Italian law. The tax regime described above will not prevent the application, if more favorable to the taxpayer, of any different provisions of a bilateral convention against double taxation in force in Italy with respect to taxes on estates and inheritances, pursuant to which non -Italianresident shareholders are generally entitled to a tax credit for any estate and inheritance taxes possibly applied in Italy. Stamp Duty Under Article 13(2bis — 2ter) of Decree No. 642 of October 26, 1972, subject to certain conditions, a 0.20% stamp duty generally applies on communications and reports that Italian financial intermediaries periodically send to their clients in relation to the financial products that are deposited with such intermediaries or with an Italian permanent establishment of a foreign financial intermediary. Shares are included in the definition of financial products for these purposes. Communications and reports are deemed to be sent at least once a year even if the Italian financial intermediary is under no obligation to either draft or send such communications and reports. 115 The stamp duty cannot exceed €14,000.00 per year for investors other than individuals. The stamp duty applies to any investor who is a client (as defined in the regulations issued by the Bank of Italy on June 20, 2012) of an entity that exercises in any form a banking, financial or insurance activity within the Italian territory. Wealth Tax on Financial Products Held Abroad Under Article