In March 2017, Alginor received a positive resolution of a renewed three-year frame with SkatteFUNN, with effects lasting until 2020.
The grossing frame applied for was 25 million NOK, with an addition of 5 million NOK, meaning that if the company does research for 25 million NOK, it may get 5 million NOK back. This resolution came after an approved end-report from Alginor’s previously finished three-year project with SkatteFUNN (2014-2017).
SkatteFUNN is an arrangement that gives businesses tax deductions for costs tied to research and development. Through SkatteFUNN, small and medium sized businesses can deduct 20% of the project costs via their tax settlement.
As of now, SkatteFUNN has given basis for payments to the company’s development project. SkatteFUNN is an important addition to Alginor’s further development, as it gives a 20% increase to the financial support already given from other research funds.