The Peruvian Congress has recently adopted new tax incentives for scientific research, development, and technological innovation. With the new incentives, 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 reduced to 150%.
Prior to the implementation of the incentive, expenses incu…