Smoltek is entitled to reduced employer contributions within R&D after reconsideration
This press release is an English version of the previously published Swedish version, which has interpretive precedence.
Smoltek Nanotech Holding AB (publ) (“Smoltek” or the “Company”) announces that the Swedish Tax Agency (Skatteverket) has reconsidered and approved the company's request for the right to deduction for employer contributions according to the rules for research and development (R&D). As a result of this decision, Smoltek will receive a refund of a total of SEK 1,507,516.
Smoltek requested a reconsideration of the Swedish Tax Agency's (Skatteverket) decision from November 2023, where the right to R&D deductions was denied. In its employer declarations, the company had made deductions for employer contributions related to employees who work with tasks that meet the requirements for research and development.
“Smoltek is fundamentally a research company that creates new knowledge around material compositions for applications and products based on advanced carbon nanotechnology. Our aim is to contribute to better performing products that make communication faster and energy production more sustainable. So, we are of course very pleased with this revised decision, which acknowledges our rightful entitlement to these well-justified deductions for our researchers”, says Håkan Persson, CEO of Smoltek.
For further information
Håkan Persson, CEO of Smoltek Nanotech Holding AB
E-mail: hakan.persson@smoltek.com
Phone: +46 317 01 03 05
Website: www.smoltek.com/investors
Smoltek develops new products with disruptive performance, based on nanotechnology, which solve advanced material engineering challenges in several industrial sectors. Today, the company operates in two business areas: semiconductors and hydrogen. Smoltek protects its unique carbon nanotechnology through an extensive patent portfolio consisting of more than 110 applied for patents, of which 91 are currently granted. The company's share is listed on the Spotlight Stock Market under the short name SMOL. Smoltek is a development company and forward-looking statements regarding time to market, production volume and price levels are to be interpreted as forecasts and not commitments.