Uruguay's Directorate General of Taxation has published Law No. 19.637, which includes various tax amendments. The main changes are in relation to the incentive regime that provides an exemption for income derived from R&D activities in the fields of biotechnology, bioinformatics and software production, including: For the exemption to apply, the resulting assets must be covered by the regulations for the protection and registration of intellectual property rights (previously goods and service must have been used exclusively abroad); The application of the nexus ratio as per BEPS Action 5 is introduced for the determination of the amount of income that...