JERUSALEM, May 27, 2004 (PRIMEZONE) -- On May 16, Identa (Pink Sheets:IDTA) was granted Approved Enterprise status by the Investment Center of the Ministry of Industry, Trade and Labor. This process is designed to promote Israeli industry, and only a select number of companies who apply are awarded this status. The process is lengthy and the Ministry studied data on Identa from all aspects, particularly with regard to the company's potential to export and sell its products.
The Investment Center granted Identa a full tax exemption from company tax over a ten-year period. It should be noted that this tax is currently assessed at a rate of 36% and, according to a recent government decision, the tax rate will be reduced to 30% over the next four years.
The approval of this status is very significant for Identa in terms of its profitability. The company estimates that it will add millions of dollars to its profits over the next ten years.
Identa Corp. develops, manufactures, and distributes proprietary on-site drugs-of-abuse testing products (chemical kit) for the professional and civil markets. The company's products include rapid test kits (substance only) for the detection of Marijuana/Hashish, Ecstasy, Cocaine/Crack, and Heroin.
HTML: http://newsroom.eworldwire.com/wr/052704/10322.htm
PDF: http://newsroom.eworldwire.com/pdf/052704/10322.pdf
ONLINE NEWSROOM: http://newsroom.eworldwire.com/1801.htm