In This Article:
VANCOUVER, BC / ACCESSWIRE / January 11, 2024 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), mobile AdTech developer and owner of the market leading Kidoz Contextual Ad Network (www.kidoz.net); and the Kidoz Publisher SDK, is thrilled to announce a significant milestone in its corporate journey. Following a comprehensive verification process, Kidoz Ltd., a fully owned subsidiary of Kidoz Inc, has been officially recognized as a Preferred Technology Enterprise in Israel, a prestigious status that comes with extensive tax relief benefits as provided by law. This esteemed status, established under the Economic Efficiency Law, is a cornerstone in promoting capital investment, innovation, and employment in Israel, especially in high-tech industries.
This recognition is particularly meaningful for Kidoz, aligning with our mission in child-safe advertising and a child-safe operating system. As a Preferred Technological Enterprise, Kidoz met rigorous criteria, including significant research and development expenses, a substantial proportion of employees dedicated to R&D, and consistent revenue and employee growth. These benchmarks reflect our commitment to innovation and technological advancement in the digital space for children.
The benefits of being a Preferred Technological Enterprise are substantial. This includes reduced tax liabilities starting from the year 2022 and projected through to 2026, subject to ongoing compliance with the law's conditions.
Eldad Ben Tora, General Manager, Kidoz Ltd. & President, Kidoz Inc., said "the tax relief is of immense business significance to Kidoz. It is anticipated to facilitate the continuity and expansion of our operations in Israel."
Jason Williams, Kidoz Inc., CEO, added "This status not only highlights our technological innovation and growth but also significantly enhances our business prospects, profitability, and expansion plans in Israel. We extend our gratitude to our Israeli team, whose expertise and commitment have been pivotal in achieving this status."
About Kidoz Inc.
Kidoz Inc. (TSXV:KIDZ) (www.kidoz.net) owns the leading COPPA & GDPR compliant contextual mobile advertising network that safely reaches hundreds of millions of kids, teens, and families every month. Google certified, and Apple approved, Kidoz provides an essential suite of advertising technology that unites brands, content publishers and families. Trusted by Disney, Hasbro, Lego and more, the Kidoz Contextual Ad Network helps the world's largest brands to safely reach and engage kids across thousands of mobile apps, websites and video channels. The Kidoz network does not use location or PII data tracking commonly used in digital advertising. Instead, Kidoz has developed advanced contextual targeting tools to enable brands to reach their ideal customers with complete brand safety. A focused AdTech solution provider, the Kidoz SDK and Kidoz Programmatic network have become essential products in the digital advertising ecosystem.