Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 183

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 10
Chunk 183
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 or legal entities)
and non-residents realizing income from their commercial and business activities in Türkiye (whether individuals or legal entities)
are advised to consult their own tax advisors in determining any consequences to them of the sale or disposition of our securities.

Tax Status of Shareholders

Under Türkiye income tax laws, there are
two types of tax status in determination of income tax liabilities of taxpayers: “residents” are subject to Turkish income
taxation on their worldwide income as taxpayers with full liability, and “non-residents” who are considered taxpayers with
limited liability are subject to Turkish income taxation on their taxable income sourced from the Republic of Türkiye (i. e., Türkiye-sourced
income), if applicable.

Real persons are considered residents for Türkiye
tax purposes if (i) they are domiciled in Türkiye in accordance with the Turkish Civil Code, or (ii) excluding temporary departures,
they stay in Türkiye for more than six months in a calendar year. If neither of the given two conditions is satisfied, real persons
are considered non-residents for Türkiye tax purposes.

Legal entities are treated as residents for Türkiye
tax purposes if they are incorporated in Türkiye under relevant Turkish laws, or if their effective places of management are in Türkiye
despite the fact that they are incorporated outside of Türkiye. If neither of the given two conditions is satisfied, legal entities
are considered non-residents for Türkiye tax purposes.

Income Taxation in Türkiye

The current income tax rate for individuals ranges
from 15% to 40%, applied on a progressive-basis, depending on the level of individual’s aggregate
gross income in a given calendar year.

The rate
of corporate (income) tax has been recently increased to fund the recovery from major earthquakes that struck Türkiye in February
to 25% for private entities, and to 30% for financial sector companies, both flat, as per the Law No. 7456, as published in the Official
Gazette dated July 15, 2023 and numbered 32249.

Capital
Gains

Capital
gains are treated as Türkiye-sourced income if the transaction leading to the gains is concluded in Türkiye, the payment for
consideration is made in Türkiye or the payment is accounted for in Türkiye even if the payment is made outside of Türkiye.
The term “accounted for” means that a payment is made in Türkiye, or if the payment is made abroad