The law for Peru's new tax incentive for scientific research, development, and technological innovation has been published in the Official Gazette and is in force from 14 March 2015. With the new incentive, Peru-based taxpayers incurring expenses for such activities will be allowed a 175% deduction for projects directly developed by them or through a Peru-based research centers. When projects are developed jointly with foreign-based research centers, the deduction is 150%. The extra deduction is capped at 1,335 tax units. For 2015, the tax unit value is PEN 3,850 (~USD 1,250). The incentive applies until fiscal year 2019.