Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 257

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 8
Chunk 257
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 generally subject to Israeli income tax for dividends
paid on our ordinary shares (other than a pro-rata distribution of bonus shares or share dividends) at a rate of either 25% or 30%, if
the recipient of such dividend is a substantial shareholder (as defined below) at the time of distribution or at any time during the preceding
12-month period.

94

Taxation of Israeli Resident Corporations
on Receipt of Dividends. Israeli resident corporations are generally exempt from Israeli corporate tax for dividends paid on our
ordinary shares.

Taxation of Non-Israeli Shareholders
on Receipt of Dividends. Non-residents of Israel (individuals or corporations) are generally subject to Israeli income tax on the
receipt of dividends paid on our ordinary shares at the rate of 25% (or 30% if such person is a “substantial shareholder”
at the time receiving the dividend or on any date in the 12 months preceding such date), which tax will be withheld at the source, unless
a lower rate is provided in the Israeli Tax Ordinance and/or regulations promulgated thereunder or under a tax treaty between Israel and
the shareholder’s country of residence and subject to the receipt in advance of a valid certificate from the Israeli Tax Authorities.

Under the U. S.-Israel Tax Treaty (the “ Treaty”), Israeli
withholding tax on dividends paid to a U. S. resident for treaty purposes may not, in general, exceed 25%. Where the recipient is a U. S.
corporation owning 10% or more of the voting stock of the paying corporation during the part of the paying corporation’s taxable
year which precedes the date of payment of the dividend and during the whole of its prior taxable year (if any) and the dividend is not
paid from the profits of a Benefited Enterprise, the Israeli tax withheld may not exceed 12.5%, subject to certain conditions.

A “substantial shareholder” is generally a person who
alone, or together with his relative or another person who collaborates with him on a regular basis, holds, directly or indirectly, at
least 10% of any of the “means of control” of the corporation. “ Means of control” generally include the right
to vote, receive profits, nominate a director, a general manager of the company or holders of similar offices in other bodies of persons,
receive assets upon liquidation, or instruct someone who holds any of the aforesaid rights regarding the manner in which he