Examples of Decree 239 in a sentence
Withholding on the Notes As at the date of this Prospectus, payments of interest andother proceeds under the Notes may be subject to a Decree 239 Deduction.
Withholding on the Notes As at the date of this Base Prospectus, payments of interest,Variable Return and other proceeds under the Notes of any Series may be subject to a Decree 239 Deduction.
If any withholding or deduction for or on account of tax (including any Decree 239 Deduction) is made in respect of any payment under the Notes, neither the Issuer nor any other person shall have any obligation to pay any additional amount(s) to any holder of the Notes on account of such withholding or deduction.
In particular, pursuant to Decree 239, the aforesaid exemption will apply to any beneficial owner of an Interest payment relating to the Notes who: (i) is resident, for tax purposes, in a country which recognises the Italian tax authorities’ right to an adequate exchange of information as listed in ministerial Decree 4th September 1996, as amended and supplemented.
If any tax deduction is made, the Issuer shall be required to pay additional amounts in respect of the amounts so deducted or withheld, subject to a number of exceptions including deductions on account of Italian substitute tax pursuant to Decree 239.