Company: NKLR
Filing Date: 2025-06-26
Form Type: S-4/A
Source: 0001213900-25-058019
Chunk: 253

Company: Terra Innovatum Global N.V.
Filing Date: 2025-06-26
Form: S-4/A
Chunk 253
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. 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. 108 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 19 of Decree No. 201 of December 6, 2011, individuals, non -businessentities and non -businesspartnerships resident for tax purposes in Italy, which hold certain financial products outside of the Italian territory (including shares) are required to pay a wealth tax at the rate of 0.20% (0.40% if the financial products are held in a country listed in the Italian Ministerial Decree dated 4 May 1999, pursuant to the provisions of Law No. 213/2023). The wealth tax applies on the market value at the end of the relevant year or — in the lack thereof — on the nominal value or the redemption value of such financial products held outside of Italian territory. The wealth tax cannot exceed €14,000 per year for investors other than individuals. Taxpayers may deduct from the Italian wealth tax a tax credit equal to any wealth tax paid in the country where the financial products are held (up to the amount of the Italian wealth tax due). Details of the financial activities held abroad have to be inserted in the income tax return to be filed in Italy by the Italian resident individuals. Certain Reporting Obligations for Italian Resident Holders Under Law Decree No. 167 of June 28, 1990, individuals, non -businessentities and non -businesspartnerships that are resident in Italy for tax purposes and, during the fiscal year, hold financial assets abroad (including, possibly, the PubCo Ordinary Shares) must, in certain circumstances, disclose these financial assets to the Italian