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Bio-Works appeals case to Supreme Administrative Court

Bio-Works Technologies AB has been subjected to a tax surcharge of 2.0 MSEK following a decision by the Swedish Tax Agency. The decision by the Administrative Court on August 22, 2023, was appealed to the Court of Appeal on September 19, 2023. The Court of Appeal made the same judgement as the Administrative Court and the Swedish Tax Agency in a verdict on March 25, 2024.

The company has now appealed the Court of Appeal’s ruling to the Supreme Administrative Court.

The company’s assessment is that the Supreme Administrative Court will approve the further appeal. The company’s stance is that the tax surcharge is disproportionate in relation to the single mistake made in the tax filing. As there is however an element of uncertainty in the appeal process to the Supreme Administrative Court, the company has decided to book the tax surcharge to costs in the Annual Report for 2023.

Contacts
For more information, please visit the Bio-Works homepage at, www.bio-works.com or contact: Arne Hauge, CFO, e-mail: arne.hauge@bio-works.com, phone: +46(0)8-502 705 83.

About Bio-Works
Bio-Works enables scientists to achieve their purification goals, from laboratory research to large scale bioprocess production. Our vision is a biotech industry that embraces, develops and builds on new methods and novel ideas. WorkBeads™, Bio-Works’ next-generation, agarose-based products, are used to purify proteins, peptides and other biomolecules, resulting in purer therapies and safer diagnostics. Through collaboration with customers and partners, we develop purification solutions that make important medicines available and accessible to everyone.

Bio-Works’ headquarters, with R&D and manufacturing, is located in Uppsala Business Park in Uppsala, Sweden. We supply products globally, through a combination of direct sales and via distributors in Europe, North America and Asia. The company is certified according to the ISO 9001:2015 quality management system. Bio-Works is listed on Nasdaq First North (“BIOWKS”), and FNCA Sweden AB is appointed Certified Adviser. For more information, visit www.bio-works.com.

Attachments
Bio-Works appeals case to Supreme Administrative Court

Source:MFN
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