Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 78

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 78
---
 tax treaties are also taken into account in the application
of withholding tax rates for profit distributions to non-residents. Investing profits to the capital cannot be considered as distribution
of dividends and is not subject to withholding taxation in Türkiye.

According to the Corporate Tax Law, 50% of
the capital and real estate gains arising from the sale of tangible assets and investments in equity shares owned for at least
two years are exempted from corporate tax on two conditions: such gains must be reflected in equity with the intention to be
utilized in a share capital increase within five years from the date of the sale, and the sale amount must be collected within
two years following the year in which the sale is realized.

Although we are an exempted company limited by
shares incorporated in the Cayman Islands, and the Cayman Islands does not impose any direct corporate tax, income tax, property taxes,
capital gains taxes, payroll taxes, or withholding tax of any kind, there is no assurance that various factors, some of which are beyond
our control, such as changes in or interpretations of Cayman Islands laws and regulations may change and have an adverse effect on us.
As an exempted company, the Company received a tax exemption undertaking from the Cayman Islands government that, in accordance with Section
6 of the Tax Concessions Act (As Revised) of the Cayman Islands, for a period of 20 years from March 3, 2021, no law which is enacted
in the Cayman Islands imposing any tax to levied on profits, income, gains or appreciations will apply to the Company or its operations
and, in addition, that no tax to be levied on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance
tax will be payable (i) on or in respect of the Company’s shares, debentures or other obligations or (ii) by way of the withholding
in whole or in part of a payment of dividend or other distribution of income or capital by the Company to its shareholders or a payment
of principal or interest or other sums due under a debenture or other obligation of the Company.

We establish tax provisions, where appropriate,
on the basis of amounts expected to be paid to (and recovered from) tax authorities and, as a result, changes in tax laws (or in the interpretations
thereof) could have an adverse effect on us.

The profits of our operating entities in Türkiye
are subject to corporate income tax