Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 269

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 8
Chunk 269
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 be required to be filed with the IRS on an annual basis by the U. S. Investor) and to make and maintain a valid
QEF election for any year in which we are a PFIC. There is no assurance, however, that we will have timely knowledge of our status as
a PFIC, or that the information that we provide will be adequate to allow U. S. Investors to make a QEF election. A QEF election will not
apply to any taxable year during which we are not a PFIC but will remain in effect with respect to any subsequent taxable year in which
we become a PFIC. Each U. S. Investor is encouraged to consult its own tax advisor with respect to tax consequences of a QEF election with
respect to us.

Mark-to-Market Election.
Alternatively, if our ordinary shares or ADSs are treated as “marketable stock,” a U. S. Investor would be allowed to make
a “mark-to-market” election with respect to our ordinary shares or ADSs, provided the U. S. Investor completes and files IRS
Form 8621 in accordance with the relevant instructions and related Treasury Regulations. If that election is made, the U. S. Investor generally
would include as ordinary income in each taxable year the excess, if any, of the fair market value of the ordinary shares or ADSs at the
end of the taxable year over such investor’s adjusted tax basis in the ordinary shares or ADSs. Thus, the U. S. Investor may recognize
taxable income without receiving any cash to pay its tax liability with respect to such income. The U. S. Investor would also be permitted
an ordinary loss in respect of the excess, if any, of the U. S. Investor’s adjusted tax basis in the ordinary shares or ADSs over
their fair market value at the end of the taxable year, but only to the extent of the net amount previously included in income as a result
of the mark-to-market election. A U. S. Investor’s tax basis in the ordinary shares or ADSs would be adjusted to reflect any such
income or loss amount. Gain realized on the sale, exchange or other disposition of the ordinary shares or ADSs would be treated as ordinary
income, and any loss realized on the sale, exchange or other disposition of the ordinary shares or ADSs would be treated as ordinary loss
to the extent that such loss does not exceed the net mark-to-market gains previously included in income by the U