INPS, with message no. 25602/2010, clarified that the social security contributions exemption applicable to the stock schemes is effective also for the ones which provide the assignation of “limited” stock or of rights concerning the future share allotment. The Institute explained that the relevant regulations – in particular, Article 24bis, paragraph 8, Law Decree no. 112/2008 – provide that the social contributions are not due for the salary deriving from the stock option schemes exercise, after 25th June 2008. Furthermore, INPS specified that, since a legal definition of “stock option” does not exist, the exemption system could be applied not only to the schemes providing the assignation of the pre-emptive rights, but also to the ones which provide, in compliance with the conditions of the schemes themselves, the share allotment also for not paid stocks. Finally, the incentive schemes providing for the payment of the shares value are not included in the mentioned exemption.
