This is an Italian made Ansaldo-Fiat Carro Veloce CV-33 or maybe an improved version L3/35 tankette. The Italians originally purchased four British Carden-Lloyd Mark VI tankettes to study which led to the production of the CV-29 designed for fast infantry support, security, and reconnaissance. Improvements to this design led to the CV-33 which served in large numbers (more than 1,300) with the Italian Army. It was also exported to Albania, Afghanistan, Austria, Bolivia, Bulgaria, Hungary, and Nationalist Spain.
Due to a lack of more suitable alternatives, it was used for combat purposes for which it was not intended, but yet comprised about 75 percent of Italian armor deployed during World War II. The two-man tankette was armed with one 6.5mm or two 8mm machine guns. It had 15mm of armor and, as such, was no match for the Allied armored cars or tanks it faced.
When Italy surrendered in 1943, the Germans took over much Italian equipment and gave some of it to their Eastern Front allies. Based on its camouflage paint scheme, the CV-33 displayed maybe an example given to the Croatian Ustashi Militia for anti-partisan duties in Yugoslavia.
