Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 76

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 76
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 dollar but report our financial results in U. S. dollars. As a result, we face exposure to fluctuations
in currency exchange rates. As exchange rates vary, revenue, cost of revenue, exclusive of depreciation and amortization, operating expenses,
other income and expense, and assets and liabilities, when translated, may also vary materially and thus affect our overall financial
results.

We may have exposure to greater than anticipated
tax liabilities and may be affected by changes in tax laws or interpretations, any of which could adversely impact our results of operations.

We expect to be subject to income taxes in the
United States and various jurisdictions outside of the United States, including Türkiye. Our effective tax rate could fluctuate due
to changes in the mix of earnings and losses in countries with differing statutory tax rates. Moreover, our tax position could also be
impacted by changes in accounting principles, changes in U. S. federal, state or international tax laws applicable to corporate multinationals,
other fundamental law changes currently being considered by many countries, including the United States, and changes in taxing jurisdictions’
administrative interpretations, decisions, policies, and positions. The U. S. Presidential administration has indicated an intent to propose
significant changes to the U. S. tax system. Many aspects of these potential proposals are unclear or undeveloped and we are unable to
predict which, if any, changes to the U. S. tax system will be enacted into law, and what effects any enacted legislation might have a
material adverse impact on our tax liabilities. In addition, the U. S. Presidential administration has indicated that the United States
may impose retaliatory measures with respect to jurisdictions that have, or are likely to, put in place tax rules that are extraterritorial
or disproportionately affect American companies. The likelihood of these changes being enacted or implemented is unclear. We are currently
unable to predict whether such changes will occur and, if so, the ultimate impact on our results of operations, cash flows, and financial
condition. For example, the Inflation Reduction Act of 2022 (“ IRA”) was signed into law on August 16, 2022 and imposes a minimum
tax on certain corporations with book income of at least $1 billion, subject to certain adjustments, and a 1% excise tax on certain stock
buybacks (including redemptions) and similar corporate actions. Any developments or changes in U. S. federal, state or non-U. S. tax laws
or tax