Chile

Chile

Amends its law on research and development

06 Mar 2012

The President approved amendments to Chile's law on research and development (20.241/2008). One of the main changes is that tax benefits extend to investments in R&D that are performed within companies (i.e. with their own internal capabilities), without being obliged to contract a specialized center registered at the national investment promotion agency (CORFO). Another important change is the elimination of the requirement for an annual gross income ceiling (previously set at 15 percent of annual gross income of the company) and the increase in the maximum amount of benefit from UTM 5,000 to 15,000 (US $ 1.2 million).