Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 201

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 201
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837  
  Other                                                                        -                   ( 229  
  Total deferred tax liabilities                       $                 ( 5,844      $          ( 7,588  
  Valuation allowance                                  $                ( 44,469      $         ( 30,064  
  Deferred tax assets, net of valuation allowance      $                       -      $                -  

  Roll forward of valuation allowance:  

The following table presents a reconciliation
of the beginning and ending valuation allowance:

  Balance as of December 31, 2021      $       ( 20,487  
 ─────────────────────────────────────────────────────────
  Additions                                     ( 9,577  
  Balance as of December 31, 2023      $       ( 30,064  
  Additions                                    ( 14,405  
  Balance as of December 31, 2024      $       ( 44,469  

In assessing the realization of deferred
tax assets, management considers whether it is more likely than not that all or some portion of the deferred tax assets will not be realized.
The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which
temporary differences are deductible and net operating losses are utilized. Based on these factors, the Company recorded a full valuation
allowance on December 31, 2024 and 2023.

F-51

GAUZY LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(U. S. dollars in thousands, except share and per
share amounts)

NOTE 18 - INCOME TAX(continued):

  Tax assessments  

The Company’s tax assessments
through 2019 are considered final. The U. S. subsidiaries have final tax assessments through 2019 respectively. Vision has final tax assessment
through tax year 2021.

During the second quarter of 2023,
Vision has agreed with social and tax authorities in France, to defer the payment of social charges and VAT due between February to June
2023 at the amount of $3.69million (€3.57million) which will be paid in monthly installments starting October 2023 over3years.

NOTE 19 - NET LOSS PER SHARE ATTRIBUTABLE TO ORDINARY
SHAREHOLDERS:

The following
table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders for the periods presented:

                                                                                                           Year ended December 31                                           
                                                                                                           2024                                        2023                 
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