On 23 January 2013, a Decree 11/013 providing tax incentive for the biotechnology industry was published in the Official Gazette (Diario Oficial N° 28.643). The biotechnology industry was declared as being of strategic interest by the government. Accordingly, a corporate income tax exemption is available subject to the conditions described below. The corporate income tax exemption applies to the income derived from the qualified activity as follows: -   a 90% exemption for tax years that began or will begin between 1 January 2012 and 31 December 2017; -   a 75% exemption for tax years that will begin between...