The Taiwan Ministry of Finance has published a notice on the R&D tax credit incentive provided under the Statute for Industrial Innovation. For 2016, qualifying taxpayers may opt for a tax credit equal to 15% of qualified R&D expense with a credit cap equal to 30% of tax payable for the year, or instead opt for a 10% credit for three years, subject to the same 30% cap. In order to apply the credit for 2016, applications must be submitted by 1 June 2017.