Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 221

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 221
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 records a valuation allowance to reduce
its deferred tax assets to the amount that it believes is more-likely-than-not to be realized. Management considers all available evidence,
both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable
income, existing taxable temporary differences, carryback availability and tax-planning strategies in assessing the need for a valuation
allowance.

The Group evaluates uncertainty in income
taxes by reviewing applicable tax law for all tax positions taken by the Group with respect to tax years for which the statute of
limitations is still open. A tax benefit from a tax position is recognized when it is more likely than not that the position will be
sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits.
Recognized tax positions are measured as the largest amount of tax benefit greater than 50 percent likely of being realized. The
Group presents interest and fines related to income taxes, if any, as a component of the income tax expense line in the accompanying
consolidated statement of operations.

The Group elected to account for Global Intangible
Low - Taxed Income (“ GILTI”) as a current-period expense when incurred. Therefore, the Group has not recorded deferred
taxes for basis differences expected to reverse in the future periods.

3.12 Cash
and cash equivalents

Cash and cash equivalents include bank deposits
in TL, U. S. dollar and EUR and highly liquid investments with an original maturity of 90 days or less at acquisition that are readily
convertible to known of cash. Cash equivalents are stated at amortized cost which approximate its fair value.

3.13 Trade
receivables

The Group collects the fees owed for completed
transactions primarily from the rider’s authorized payment method. Payments are collected by the paying agent and transferred to
the Group the next business day. The accounts receivable on the consolidated balance sheet represent the receivables from the authorized
paying agent.

3.14 Financial
liabilities

All interest-bearing loans are initially recognized
at fair value less directly attributable transaction costs. After initial recognition, loans and borrowings are subsequently measured
at amortized cost using the effective interest method. Gains and losses are recognized in profit or loss when the liabilities are derecognized.

F-15

MARTI TECHNOLOGIES, INC. AND ITS SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31