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Taxes on Income
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
TAXES ON INCOME

NOTE 11 - TAXES ON INCOME

 

A.The Company is subject to income taxes under Israeli tax laws:

 

1.The Israeli corporate tax rate was 23% in 2022, 2021 and 2020.

 

2.As of December 31, 2022, the Company generated net operating losses of approximately $42,795, which may be carried forward and offset against taxable income in the future for an indefinite period.

 

3.The Company is still in its development stage and has not yet generated revenues. Therefore, it is more likely than not that sufficient taxable income will not be available for the tax losses to be utilized in the foreseeable future. Therefore, a valuation allowance was recorded to cover the entire balance of the deferred tax assets.

 

   December 31, 
  2022   2021 
Deferred tax assets:        
Deferred taxes due to carryforward losses  $9,843   $8,396 
           
Valuation allowance   (9,843)   (8,396)
Income tax expenses   
—
    
—
 

 

4.The Company has no uncertain tax positions and foreign sources of income.