Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 264

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 8
Chunk 264
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 the amount received on the conversion of the NIS into dollars. Such gain or loss will generally be ordinary
income or loss and United States source for U. S. foreign tax credit purposes. U. S. Investors should consult their own tax advisors regarding
the tax consequences to them if we pay dividends in NIS or any other non-U. S. currency.

97

Subject to certain significant conditions and limitations, including
potential limitations under the Treaty, any Israeli taxes paid on or withheld from distributions from us and not refundable to a U. S.
Investor may be credited against the investor’s U. S. federal income tax liability or, alternatively, may be deducted from the investor’s
taxable income. This election is made on a year-by-year basis and applies to all foreign taxes paid by a U. S. Investor or withheld from
amounts paid to a U. S. Investor that year. Dividends paid on the ordinary shares or ADSs generally will constitute income from sources
outside the United States and be categorized as “passive category income” or, in the case of some U. S. Investors, as “general
category income” for U. S. foreign tax credit purposes.

As a result of recent changes to the U. S. foreign tax credit rules,
a withholding tax may need to satisfy certain additional requirements in orders to be considered a creditable tax for a U. S. investor.
We have not determined whether these requirements have been met and, accordingly, no assurance can be given that any withholding tax on
dividends paid by us will be creditable. Since the rules governing foreign tax credits are complex, U. S. Investors should consult their
own tax advisor regarding the availability of foreign tax credits in their particular circumstances.

Dividends paid on the ordinary shares and ADSs will not be eligible
for the “dividends-received” deduction generally allowed to corporate U. S. Investors with respect to dividends received from
U. S. corporations.

Distributions treated as dividends that are received by an individual
U. S. Investor from “qualified foreign corporations” generally qualify for a reduced maximum tax rate so long as certain holding
period and other requirements are met. A non-U. S. corporation (other than a PFIC for the taxable year in which the dividend is paid or
the preceding taxable year) generally will be considered to be a qualified foreign corporation (i) if it is eligible for the benefits
of a comprehensive tax treaty with