IDEX Biometrics Receives UK R&D Tax Relief
IDEX Biometrics has successfully claimed research and development tax relief in the United Kingdom where the company performs certain research and development activities. UK small or medium-sized enterprise (SME) R&D tax relief allows companies to deduct up to 230% their qualifying costs from their yearly profit or claim a tax credit if the company is loss making, worth up to 14.5% of the eligible loss.
IDEX has claimed United Kingdom SME tax relief for 2017 and 2018 and received a cash refund of 8.1 million NOK. The company will carryforward 25.4 million NOK in tax credits available to offset future taxable income in the United Kingdom. The company plans to claim additional research and development tax relief when it files its 2019 tax return.
For further information contact:
Marianne Bøe, Investor Relations
Tel: + 47 918 00186
Derek D’Antilio, Chief financial Officer
Tel: +1 197 827 31344
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of fingerprint identification technologies offering simple, secure and personal authentication for all. We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings with the touch of a finger. We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com and follow on Twitter @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act