On 12 July 2015, Peru published Supreme Decree No. 188-2015-EF in the Official Gazette. The decree provides details on an increased deduction for R&D expenses that will be made available for companies engaged in scientific and technological research projects, and technological innovation projects from 1 January 2016. Projects approved by the National Council of Science, Technology and Technical Innovation (CONCYTEC), will be allowed a 150% or 175% deduction for expenses directly related to the project, including depreciation and amortization of related assets. The increased deduction amount depends on certain factors, including whether the company is conducting the activities itself and...