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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | Loss before taxes is comprised as follows:
| December 31, 2021 |  | December 31, 2020
Domestic (Israel) | $ | (498,242) |  |  | $ | (67,713) |
Foreign | (5,807) |  |  | *)
Total | $ | (504,049) |  |  | $ | (67,713) |
*) Represents less than $1.
Schedule of Deferred Tax Assets and Liabilities | The following table presents the significant components of the Company’s deferred tax assets:
| December 31, 2021 |  | December 31, 2020
Deferred tax assets: |  |  |
Operating loss carryforward | $ | 22,723 |  |  | $ | 7,660 |
Share based compensation | 98,396 |  |  | — |
Research and development | 5,586 |  |  | 1,532 |
Accrued social benefits and other | 366 |  |  | 217 |
Deferred tax asset before valuation allowance | $ | 127,071 |  |  | $ | 9,409 |
Valuation allowance | $ | (126,898) |  |  | (9,409) |
Total deferred tax assets | $ | 173 |  |  | $ | — |
Fixed Assets | (173) |  |  | — |
Deferred tax liabilities | $ | (173) |  |  | $ | — |
Net deferred taxes | $ | — |  |  | $ | — |
Schedule of Components of Income Tax Expense (Benefit) | Income taxes are comprised as follows:
| December 31, 2021 |  | December 31, 2020
Current | $ | 1,281 |  |  | $ | — |
Deferred | — |  |  | — |
| $ | 1,281 |  |  | $ | — |
| December 31, 2021 |  | December 31, 2020
Domestic | $ | — |  |  | $ | — |
Foreign | 1,281 |  |  | — |
| $ | 1,281 |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the opening and closing amounts of total unrecognized tax benefits is as follows:
| December 31, 2021 |  | December 31, 2020
Opening balance | $ | — |  |  | $ | — |
Tax positions taken in current year | 856 |  |  | — |
Interest | — |  |  | — |
Ending Balance | $ | 856 |  |  | $ | — |
Summary of Operating Loss Carryforwards | As of December 31, 2021, the Company and it’s subsidiaries had net operating carry forward losses for tax purposes which may be carried forward and offset against taxable income in the future for an indefinite period.
Name of Subsidiary | Net Operating Loss Carryforwards
REE Automotive Ltd | $ | (98,245) |
REE Automotive UK Limited | $ | (353) |
REE Automotive Holdings Inc. (1) | $ | (152) |
REE Automotive Japan K.K. | $ | (6) |
NOTE 11. INCOME TAXES (cont.) (1) Utilization of the U.S. net operating losses may be subject to substantial annual limitation due to the “change in ownership” provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization.

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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