INPS, with its message no. 25602/10, clarified that the exemption from contributions applicable to stock option plans also regards those which entail assignment of “limited” shares or rights to future assignment of shares. The Institute explained that the reference law – represented by article 24bis, paragraph 8, of Italian Legislative Decree no. 112/2008 – includes a tax exemption for employment income resulting from stock option plans exercised after 25 June 2008 and states that in the absence of a legal definition of stock option this exemption is applicable not only for plans with assignment of option rights but also those with assignment of granted shares in compliance with the conditions of such plans. Lastly, incentive plans with payment in cash for the value of the shares remain excluded.
(Il Sole 24 Ore)