Modifies Law Nâ ° 20.241, Established A Tax Incentive To The Private N Inversia In Impression And Development

Original Language Title: MODIFICA LEY N° 20.241, QUE ESTABLECE UN INCENTIVO TRIBUTARIO A LA INVERSIÓN PRIVADA EN INVESTIGACIÓN Y DESARROLLO

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"Sole article.-amending Law No. 20.241, that provides a tax incentive for private investment in research and development, in the following way: 1. replace the designation of the law N ° 20.241, with the following:"Establishes a tax incentive for investment in research and development."."

2. merge, before article 1, the following heading: "Title first definitions".

3.-amended article 1, as follows: i) replacements literals to) and b) by the following: ' a) research: the methodical search that is intended to generate new knowledge in the scientific and technological field, which may be basic or applied. " Refers to basic research that is experimental or theoretical work undertaken primarily to obtain new knowledge about the foundations of phenomena and observable facts, irrespective of whether they have an application or specific use. Applied research is also original works to acquire new knowledge; However, it is directed primarily towards a specific practical aim. For the purposes of this Act the expression "research" is understood to refer both basic research and applied research.

b) Experimental Development: hereinafter indistinctly "development", consists of systematic work that leverage existing knowledge gained from research and/or experience, and is directed to producing new materials, products or devices; the implementation of new processes, systems and services, or the substantial improvement of the existing ones. Also understand the development of software, provided that such development give rise to greater knowledge in order to solve a scientific or technological uncertainty in a systematic manner or allow to generate a substantial and innovative improvement in any process, product or service. "."

((ii) Introducense the following modifications in the literal c): to) replace the expression "whose main activity consists in the realization of", the expression "carrying";

((b) replace the conjunction disjunctive "or" by the coordinating conjunction "and" between the words "research" and "development", every time it appears, and c) replaced, then at the first point followed, the sentence that begins with the expression "Regulations" and ends with the word "Investigation.", by the following: "the rules of the register of centres for the realization of activities of research and development that will dictate to the effect , establish criteria or objective parameters to determine when the activities carried out by these centres constitute research and development. "."

((iii) replace the literal d) the expression "a contributor", with the phrase "one or more contributors"; replace the conjunction disjunctive "or" by the coordinating conjunction "and" between the words "research" and "development"; and replaced then followed point, the sentence that begins with the expression 'Once' and ending with the word "law.", by the following: "Without prejudice as provided in article 4th, once certified, in accordance with the provisions of article 3 °, this agreement will entitle to tax benefits established in this law.".

((iv) add the following literal f): "f) research and development project: the set of activities carried out by taxpayers using their own capabilities or third parties, which have as their object the realization or implementation of activities of research, development, or both, as they are defined in this article, provided that it is relevant for the development of the country and carried out mainly within the national territory" as set it the regulation referred to in article 16. Subject as provided in article 9, once certified a research and development project in accordance with the provisions of the third title, costs incurred by taxpayers for the realization of this project, fulfilling the other requirements of this law, shall be entitled to tax benefits set out in the title. "."

(v) replace, in the second paragraph, the phrase "for the purposes of this law, not", by the adverb of negation "No"; and replace the conjunction disjunctive "or" by the coordinating conjunction "and" between the words "research" and "development"; in point vi) of the same subsection, replace the phrase "is included in" the voice "consist"; replace the conjunction disjunctive "or" by the disjunctive conjunction "and" between the words "research" and "development", and replace the item (vii)) by the following: "vii) performing or contracting of market and commercialization studies.".

VI) Incorporanse the following third, fourth and fifth subparagraphs: "in the case of activities associated with the establishment of industrial property rights, consisting of patents, utility models, and designs and industrial designs, all under cover of law No. 19.039 of Industrial property; Copyright on computer programs, under cover of law No. 17.336 intellectual property; and rights of protection of new plant varieties, under cover of law No. 19.342, that regulates rights of breeders of new plant varieties, the activities required for the Constitution of the respective rights, including professional services involved in the process of obtaining the rights and records, expert reports, defenses to any oppositions and costs of associated publications they may be subject to the tax benefit established in this law, to the extent that these are derived from the results of projects and contracts for research and development, duly certified by "CORFO", under the protection of this law.

The activities described in the preceding paragraph can be incorporated either in the original application for certification of the corresponding contract or project, or well after, governed in the latter case under the same procedure for the certification of contracts and projects of research and development, to the extent applicable.

For the purposes of this Act, means that the expression "research and development"comprises the activities of research, development, or both".

4.-entered, then article 1, the following heading: "Second title of centres of research and certification of contracts" 5.-amended article 2 as follows: i) replace, in the second paragraph, the word "sixth" by the expression "eighth".

(((ii) in the third subparagraph, introducense the following amendments: a) added, in its literal i), the following new paragraph: "(Se entenderá que el centro cuenta con suficiente experiencia si éste acredita la ejecución de, a lo menos, un proyecto relacionado con una o más actividades de las descritas en las letras a)) and (b) of article 1, in the last 36 months prior to the date of presentation of their history.".

(((b) Reemplazanse their literal ii) e iii), by the following: "ii) have been found in operation, exercising activities of research and development, for at least six months prior to the application for registration in the register."

III) mechanisms that reflect faithfully and clearly those expenditures which will be carried out within the framework of the project. "."

(iii) replace, in the fourth paragraph, the word "Reconstruction" with the word "Tourism".

6.-amended article 3 as follows: i) in subsection first, add the following final sentence, then separate point, it passes to be followed: "for research and development contracts concluded between a research center and more of one taxpayer simultaneously, each taxpayer should commit to pay at least 100 monthly tax units , indicating in the contract part of the price to pay for every one of them. "."

((ii) in paragraph second, introducense the following modifications: a) Insert, between the first followed and the phrase "for such purposes", the following sentence: "this certification may be granted form prior to the use of the tax by taxpayer benefits, or well shaped back, as regulated in the following article.".

(b) Reemplazanse the words "technical evaluation" by "review", both times appearing;

(c) replace the conjunction disjunctive "or" by the coordinating conjunction "and" between the words "research" and "development", the two times it appears;

((d) replace in its literal ii), the phrase "and that this price corresponds to the market values", the phrase "and that the price fits the conditions observed in the market";

e) disposed of its literal iii), which extends to the first point followed, and expression ", and" above you.

(iii) replace the third subparagraph by the following:
"For the purposes specified in the preceding paragraph, CORFO may request an affidavit, given by the representative, in which it shall declare that from the date of the resolution which ordered the registration of the center of research in the registry or since the last time that informed CORFO of occurred changes, as appropriate, Research Center has not experienced changes to those referred to in article 2 °. Any such modifications, the representative shall inform the CORFO prior to certification of the contract research and development respective, according to the procedure laid down in paragraph seventh of article 2, and must also indicate, in the affidavit which must accompany, there are no other modifications other than the informed. "."

(iv) in the final paragraph, replaced the word "assessment" by the word "review", both times appearing; and replace the conjunction disjunctive "or" by the coordinating conjunction "and" between the words "research" and "development".

(7) replace article 4 ° by the following: "article 4.-the taxpayer must certify their contracts prior to the use of tax benefits established by this law.

However, taxpayers may make use of tax benefits of this law, in the form as below is designated, without having the certification prior to that referred to in the preceding paragraph. For these purposes, taxpayers should report its intention to benefit from this form of certification to CORFO, as this determines, within 30 calendar days from the first disbursements incurred on the occasion of a research and development contract.

In the former case, the application for certification shall arise, at the latest within 18 months following the submission of information to the CORFO referred to in the preceding paragraph, by the taxpayer. The certification of the contract, if applicable, must be granted by CORFO within 180 calendar days from the date of the application for certification.

Taxpayers who to use as indicated in the second paragraph may only deduct from its liquid income 65% of the costs incurred on the occasion of a contract research and development, in the designated form in fourth and following paragraphs of article 5 °, but they are not entitled to the credit established in the same layout but once obtained the certification of its contract by CORFO. For these purposes, from the date that report to CORFO as provided in the second paragraph, the internal revenue service may not liquidate or turn any tax on such expenses. During the same period, they will not be the limitation periods referred to in article 200 of the tax code.

Once granted the certification, the taxpayer may impetrar the credit referred to in article 5, for whose effects must be determined for each of the years incurred in outlays, rectifying the respective tax returns. When on the occasion of the imputation of the credit is determined a payment in excess of the first category tax, the taxpayer may request repayment according to the provisions of article 126 of the tax code, properly reset in accordance with article 57 of the same code.

In the event that the CORFO do not grant total or partial certification to a contract requested by a taxpayer welcomed provisions in the second paragraph, the internal revenue service may contest the deduction of the expenses, incurred in the execution of contracts on the side that they have not been certified, in the exercise of their legal powers. "."

8.-amending article 5 in the following way: i) replaced first paragraph with the following: "article 5.-taxpayers in the first category tax of the income tax Act, declaring their effective income determined according to full accounting, will be entitled to a credit against the tax of first class of the year, equivalent to 35% of the total of payments in money made in accordance with duly certified research and development contracts concluded with reported research and development centers. The amount of the credit that the taxpayer is entitled in each office, under the rules of this title, may not exceed the equivalent of fifteen thousand monthly tax units, according to the value of the unit at the end of the respective period. "."

(ii) replace the fourth subparagraph by the following: "the taxpayer shall be entitled, in addition, to lower and expenditure necessary to produce income, the amount of payments made in accordance with the research and development contracts duly certified, in that part which does not constitute credit, even though the expenses for the activities carried out under these contracts are not required to produce the income for the year" and can be deducted up to in ten commercial consecutive years counted from the year in which the relevant certificate has been granted, readjusted in accordance with the 7th number, article 41, of the income tax act. "."

(iii) Intercalanse following fourth subparagraph, fifth, sixth and seventh paragraphs following, passing current subparagraphs fifth, sixth and seventh, to be eighth, ninth and tenth, respectively: "disbursements, whether in the part to give right to a credit as in the part which can be deducted as an expense, in no event will be taxed pursuant to article 21 ° of the income tax act."

Subject as provided in article 4, once the respective certificate contract, the taxpayer shall be entitled to make use of the tax benefits of this law, for payments made after the date of the contract.

Taxpayers may not make use of franchises established on the number 11° of article 31 of the law on the income tax, for payments incurred under research and development contracts certificates giving the right to tax benefits set out in this Act. "."

((iv) in paragraph v) new eighth paragraph, removed after the word "development" the sentence that begins with "as well as such taxpayer-related people" far apart, becoming a point separate the comma following the word "development".

9.-Incorporanse the following amendments to article 6: i) replaced into the second paragraph, the sentence that begins with the expression "The previously mentioned resolution" and ending with the acronym "CORFO.", by the following: "previously mentioned resolution must declare the date of failure to comply with the terms and conditions of the research and development of respective contract and it must be notified to the representative and the other Contracting Parties. Against this resolution shall be established by law Nº 19.880 resources. Taxpayers affected by the aforementioned resolution must rectify their statements from the time of default designated in the same resolution, for periods in which recognized credit and derived from contract research and development spending. "."

(ii) add the following third paragraph: "Without prejudice to the provisions of the preceding paragraph, taxpayers affected by the aforementioned resolution shall have the right to repeat against the Research Center which is part of the contract for research and development, according to the conditions that have stipulated contractual and legal regulations of general application, in your case.".

10.-in article 7: i) added in the second paragraph, the word "Representative" and the expression "to respect", the phrase "to the taxpayer".

(ii) add in the fifth paragraph, and the word "CORFO" separate point that followed, the following sentence: "in your case, or the deadline for obtaining has not expired according to provisions of the second paragraph of article 4".

11 Add the following epigraph follows article 8: "Title third of the projects of research and development".

12 replacements items 9, 10 and 11, and agreganse articles 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23 and 24, new, following: "article 9.-for the purposes of the provisions of the present law, CORFO will be the institution to certify the projects of research and development that taxpayers with their domestic capacities or third parties taxpayers for the presentation of such projects can be associated.

Taxpayers must certify their research and development projects prior to the use of tax benefits established by this law.

However, taxpayers may make use of the tributaries of this law benefits, as set out below, without having the certification prior to that referred to in the preceding paragraph. For these purposes, taxpayers must inform CORFO, as this determines, within 30 calendar days from the first disbursements incurred on the occasion of the same, of its intention to join this type of certification.
In the former case, the application for certification shall arise, at the latest within 18 months of the shipment to CORFO of information referred to in the preceding paragraph, by the taxpayer. The certification of the project must be granted by CORFO, if applicable, within 180 calendar days from the date of the application for certification.

Taxpayers who to use as specified in the third paragraph only may deduct from its liquid income 65% of expenses paid on the occasion of a project of research and development, in the form indicated in article 19, but they are not entitled to the credit established in the same layout but once obtained the certification of your project by CORFO. For these purposes, since that is reported to CORFO in the third paragraph, and so far of obtained certification, the internal revenue service may not liquidate or turn any tax on such expenses. During the period referred to earlier, they will not be the limitation periods referred to in article 200 of the tax code.

Once granted the certification, the taxpayer may impetrar the credit referred to in article 18, for whose effects must be determined for each of the years incurred the expenditures that are entitled, in rectifying the respective tax returns. When on the occasion of the imputation of the credit is determined a payment in excess of the first category tax, the taxpayer may request its return in accordance with the provisions of article 126 of the tax code, duly redesigned in accordance with the provisions of article 57 of the same code.

In the event that CORFO do not grant total or partial certification to a project requested by a taxpayer welcomed provisions in the second paragraph, the internal revenue service can challenge the deduction of expenses incurred in the execution of projects, in the part which they have not been certified, in the exercise of their legal powers.

Article 10.-Regardless of the procedure that is used to certify a project of research and development, under the previous article the respective application must be submitted by the taxpayers to CORFO. This request may be accepted or rejected by the latter, wholly or partly, founded resolution, which shall be notified to the or to taxpayers, who may exercise the resources established by law Nº 19.880.

Notwithstanding everything stipulated in the previous article and in the final paragraph of article 18, once certified project, the taxpayer shall be entitled to make use of the tax benefits of this law, the date of the respective application for certification.

Article 11.-the certification procedure will begin by requesting that the taxpayer shall submit to CORFO, who must verify that taxpayers complying with the following requirements: to) present a project of research and development, as this is defined in article 1 °, with a higher cost than a hundred monthly tax units at the time of its presentation. In the case of associative projects, i.e. those presented by two or more taxpayers, the cost of the project for each of the taxpayers individually considered, must be greater than 100 monthly tax units at the time of the presentation.

(b) be able to have material capabilities and sufficient staff to carry out adequate research and development project.

(c) have mechanisms that reflect faithfully and clearly those expenditures which will be carried out within the framework of the project.

(d) submit an affidavit in which is revealed that background that are delivered, for the purposes of eligible for the benefits of this law, are authentic, reliable and truthful to CORFO.

For associative projects, each taxpayer shall comply with the requirements established by previous, literals with respect to those activities.

Article 12.-a time delivered to CORFO background set out in the previous article, this will verify: a) that projects of research and development submitted by the taxpayer actually aim the preparation or execution of research and development, as they are defined in this law, and b) than disbursements arising on the occasion of these projects , adequately reflect costs incurred or will incur for the activities of research and development to which they refer and that such costs conform to conditions observed in the market.

Verifying the above, CORFO will issue a resolution certifying the project of research and development.

Article 13.-the resolution stating a research and development project must contain at least the following indications: a) name or business name of the taxpayer.

b) tributary unique role of the taxpayer.

(c) the name of the research and development project which is certified.

(d) the general objective of the project.

(e) total cost of the project about whose discharges are entitled to tax benefits. However, and as determined by the rules of procedure, the taxpayer may, well-founded background, ask CORFO permission to modify this item, should dictate to the effect a new resolution. While not authorizing a new amount of costs and expenses, the taxpayer must use the tax benefits of this law with the amount authorized by CORFO.

f) in the case of associative projects, the total cost that each taxpayer will incur.

En_caso_que in the case of an associative project, CORFO resolution shall contain the mentions referred to in letters a) and b) to each of the contributors with respect to which the project is credited.

Article 14.-For the purposes of the provisions of the preceding articles, CORFO will organize and implement a review of the projects of research and development process, being able to use the skills effect internal or avail themselves of national or international expert advice, as the nature of the research and development activities referred to projects that are subject to review demands.

Article 15.-CORFO, as well as personnel acting under its authority, and those advisers or experts participating in the technical review of research and development projects, shall maintain confidentiality about the content thereof and the background receiving on the part of taxpayers.

Article 16.-A regulation issued by Supreme Decree of the Ministry of economy, development and tourism, and also signed by the Minister of finance, shall determine the procedures for the submission, review, certification and revocation of the projects of research and development, as well as the mechanism of adjustability, form of payment, and other aspects of the tariff established in article 25.

The procedure whereby taxpayers may qualify for as specified in articles 4 and 9, and CORFO require for purposes of the final paragraph of the following article shall be established in the regulation.

Article 17.-without prejudice to the provisions of the final paragraph of this article, the following types of disbursements may be considered by CORFO as part of a research and development project, provided that they relate directly with this: 1. research and development expenditure flows.

(a) salaries and fees for personal services performed by natural persons, both valued according to the percentage of dedication to the project, corresponding to the technical staff and professional directly linked to the activities of the same. At least 50% of these expenses shall correspond to activities that are carried out within the national territory.

(b) expenses direct on the activities of the project, such as materials and supplies, reagents, computer services, analysis laboratory, bibliographic material and other components necessary to carry out the project.

(c) contracts with legal entities for the provision of services directly related to the project activities. At least 50% of these expenses shall correspond to activities that are carried out within the national territory.

(d) the lease, sublease, usufruct or any other remunerated form of assignment of the use or temporary enjoyment of movable or immovable property, provided that they are necessary to carry out the purpose of the project.

(e) expenses incurred in the Constitution of rights of industrial and intellectual property, or register of new plant varieties, in accordance with the provisions of article 1 of this law.

(f) costs of basic services related to the project, such as water, electricity, telephone and internet, among others. These disbursements may not constitute more than 5% of the running costs of the project, subject to the deduction as an expense of those not forming part of the same. However the above, through CORFO founded resolution may authorize a percentage higher than that indicated in this letter when expenditures of this nature are a relevant component of the total cost, given the characteristics of the project.

2. expenditure on physical property of the immobilized assets for research and development.
Physical property of the fixed asset spending for research and development, within which are those incurred in the acquisition or manufacture of equipment and instruments required for the execution of the project. These disbursements may include expenses of insurance, relocation, and internment, and all the accessories necessary for the operation and implementation of the designated assets. Are also considered investments in buildings and infrastructure, and investments for the acquisition or purchase of property, required for the execution of the project.

Within the framework of this article, CORFO will establish, by means of resolution, specification and detail of the expenses that may be considered as part of a research and development project. Also, the Agency shall determine, ex officio or at the request of the taxpayer, whether a particular disbursement does not expressly mentioned in this article or in the respective resolution, it can be taken as part of a project.

Article 18.-Taxpayers in the first category tax of the income tax Act, declaring their effective income determined according to full accounting, shall be entitled to a credit against the tax for first category, to be calculated as indicated in the following paragraph, provided that the respective projects are duly certified by CORFO.

Credit for each financial year shall be equal to 35% of a base composed of the total payments for current expenses and the annual quota of depreciation of physical assets of the fixed assets referred to in article 17, provided that these physical assets are acquired within the framework of a research and development project. This annual quota of depreciation is determined in accordance with the provisions of article 31, number 5 °, of the law on income tax.

The amount of the credit that the taxpayer is entitled in each exercise, may not exceed the equivalent of fifteen thousand monthly tax units, according to the value of the unit at the end of the respective year.

The credit established in this article will fall against the first category tax levied income from the exercise that occurred effective disbursement of expenditure referred to in the preceding article, or be debited annual depreciation, if any, as appropriate. In event of a remnant of credit, this will not give a refund, but may be charged against the first category tax corresponding pay in later exercises, duly adjusted in the form referred to in article 95 of the income tax act.

Credit to that referred to in this article shall be calculated considering the amount of expenses incurred in the exercise in the concept of research and development projects, as well as the share of depreciation that corresponds, updated in accordance with the percentage of change in the price index to the consumer in the period from the last day of the month prior to the effective payment to the last day of the month prior to the end of the year , as applicable.

When the payments or the acquisition of physical assets related to the project have taken place between the dates of submission of the request for certification and the resolution that certifies project, but in a period other than that in which the aforementioned resolution is issued, they must be considered for the determination of the benefits referred to in this law in the exercise in the judgment is handed down.

Article 19.-without prejudice to the credit referred to in the preceding article, the taxpayer is entitled to reduce as an expense necessary to produce income, in that part which is not credit, expenses and annual depreciation to that referred to in article 17, provided that the respective research projects and development are duly certified, and even when the disbursements incurred on the occasion of the research and development activities carried out under the same projects they are not required to produce the income for the year, and may be deducted up to in ten consecutive business years counted since such expenses were generated. When they deducted in subsequent financial years, they will be reset in accordance with number 7 °, article 41, of the income tax act.

Expenses incurred, either in part to give right to a credit as in the part which can be deducted as an expense, in no event will be taxed pursuant to article 21 ° of the income tax act.

Taxpayers may not make use of franchises established in number 11 ° of article 31 of the law on income tax, on payments incurred under projects of research and development certificates giving the right to tax benefits set out in this law.

Also, for expenditure on physical assets of the fixed assets, respect of the acquisitions carried out under research and development projects that are certified for the purposes of this Act, taxpayers may not make use, in addition, the credit established in article 33 bis of the income tax act.

Article 20.-at least, once a year, the taxpayer must submit to the internal revenue service and CORFO, in shape to run such entities to determine, an affidavit reporting: to) certified by CORFO research and development projects and that they have executed, or are in the implementation phase, during the respective fiscal year;

b) the identification of people who have been made payments pursuant to the implementation of such projects, and the amount of such payments, and (c)) the total cost of each project certified by CORFO.

Taxpayers who to use what establishes third and following paragraphs of article 9, shall send to the internal revenue service, within this determined, as indicated in the letter b) of the preceding subsection.

Article 21.-As part of a research project and development is financed with public resources, the provisions of this law benefit shall be applicable only with respect to that part of the disbursements that did not receive such funding. For these purposes, the taxpayer shall submit to the internal revenue service, in the form and within the time limit to this point, an affidavit in which indicates which part of the disbursements incurred in the respective year was not financed with public resources.

Article 22.-without prejudice to the provisions of article 13, it shall correspond exclusively to CORFO oversee proper implementation and fulfillment of the research and development projects already certificates referred to in this law, which may request, even taxpayers, on a regular basis, the information deemed necessary to verify compliance with the conditions laid down in this law and the respective development and research project.

CORFO may declare, by a founded resolution, non-compliance with the terms and conditions of the project of research and development, if the information or records required in accordance with the provisions in the preceding paragraph and, especially, in article 20, are not presented to your satisfaction in deadlines and form established in the respective application or the law. Likewise, the resolution must declare the date of failure to comply with the terms and conditions of the respective development and research project.

This statement shall also taken in the event that the project of research and development not was running properly according to CORFO presented history for purposes of certification.

However the above, when the taxpayer had invoked the benefits of this law under payments or goods that do not correspond to total or partially to projects certified by CORFO, the internal revenue service may, prior pronouncement of the CORFO founded resolution determined that such costs do not correspond total or partially projects certified by the Corporation challenge the credit or the deduction of the expenses in question, in accordance with their powers of control, determining taxes, interest and penalties that apply. In these cases, CORFO may revoke the relevant certificate, when contested costs are equal to or greater than 20% of the total amount of certified project.

Article 23.-Resolution that revokes the draft research and respective development certification, will prevent taxpayers qualify for the tax benefits established in this law with respect to this research and development project, so the taxpayer must rectify their statements from the time of default designated in the same resolution, for periods in which recognized credit and derivative project of research and development spending.

The resolution of which is this article and the previous article must be notified to it taxpayers that corresponds, and against it proceed resources established by law Nº 19.880.

CORFO must notify the internal revenue service, in the form and time to this point, about all the recalls resolutions issued during the financial year.
Article 24.-in everything related to the procedure of the CORFO certification research and development projects, and to the powers of oversight that the entity is the owner pursuant to this law, the provisions of law No. 19.880 shall apply. Also, in the above matters will correspond to CORFO implement and regulate their internal procedures for the correct application of this law. "."

13 Add, then the new article 24, the following title: "title fourth General provisions and sanctions article 25.-CORFO may charge a fee to taxpayers by the certification of submitted contracts or projects, which will be incorporated into the heritage of this entity and in any case will be returned to the applicant, nor even in the event that the project or contract research and development will be rejected." The amount of this fee, which shall serve to finance part of the costs of the procedure laid down in the law for the certification of contracts and projects of research and development, may not exceed 4% of the total cost of the project or contract and, in any case, may not be less than the sum of ten monthly tax units.

The payment of this fee shall be considered as an expense necessary to produce income for the purposes of article 31 of the income tax act.

Article 26.-The activities of contracts for the provision of research and development services object of the tax benefit established in the second title of this law, may not be at the same time subject to the benefit referred to in the third title.

Nor that research contracted by a taxpayer, when simultaneously link disbursements incurred on the occasion of the contract, a project may be subject to the benefits of this law.

When using the benefits established by this law in the cases referred to in this article, with respect to the taxpayer who has not been able to but be aware, shall apply the provisions of article 23, for the purposes of revoking the project, rectify, turn or pay the taxes, interest and penalties that corresponds.

Article 27.-during the term of the present law, CORFO will prepare annually, for statistical purposes and information, a report which should include a detailed and disaggregated terms, at least, the following information on the twelve months prior to the date of the above report: to) identification of research institutes requesting to register in the register to that referred to in this law; identification of research centers that having applied for such registration actually were incorporated, including information relating to their distribution in the different regions of the country and the identification of registered research centers that depend on universities; identification of centres of research whose applications were rejected and the causal main of these rejections, and the identification of the research centres that have been removed from the registry and the causes of the above.

(b) identification of contracts and projects of research and development for which it has requested certification refers to this law, and identification of those who have obtained it, including information identifying the amount of research and development contracts concluded by each Research Center. Also, the identification of contracts or projects of research and development to those not granted them certification and this causes major.

(c) identification of taxpayers who have signed contracts or presented research and development projects, that have been certified under cover of the provisions of this Act, including information allowing, if possible, categorize them according to economic sector to which they belong, their size as an organization and the regions of the country in which they are domiciled.

(d) identification of taxpayers who have opted for the certification procedure indicated in subparagraphs second and following item 4 °, and third and following of article 9.

(e) the total amount of resources committed by taxpayers in research and development, through contracts or research and development projects referred to in this law, and must indicate the sectors and regions of the country that concentrate the greater commitment of resources invested through such contracts or projects.

The report referred to in the preceding paragraph shall be public knowledge, and must publish it in electronic or digital form CORFO January 30 of each year.

Article 28.-The CORFO remain available to the public, in the form determined by the designated rules in article 16, an updated list of applicants who have received tax benefits from this law, the total price that have agreed in each of the contracts for research and development, as well as the costs of investment and development projects , the percentage they have right as credit and spending, and if they have played host to the mechanism that allows them to not have previous certification, established in articles 4 and 9 of this Act.

Article 29.-The Ministry of finance will report annually to the Finance Committee of the Chamber of deputies of the use of the tax benefits contained in this Act, including the number of projects and the amount of resources involved.

Article 30.-those who individually or agreements proporcionaren background, reports or statements maliciously false or incomplete in order to obtain registration or kept in the register, a contract research and development certification or impetrar the tax benefit referred to in this law, as appropriate, shall be punished by the penalties established in the N ° 23 of subsection first article 97 , of Decree Law No. 830, 1974, on tax code.

(14) replaced article 1 transitional ° by the following: "article 1 transitional °.-for the purposes of benefit from the regime of incentives referred to in this law, taxpayers must submit to CORFO requests for certification of their contracts and projects until the day December 31, 2025." As a result, contracts and projects duly certified by CORFO, shall entitle taxpayers to make use of the benefits of this law, even if these benefits become effective subsequent to December 31, 2025, provided that the respective certification application has been filed until that date. "."

(15) replaced article 2 ° transitional with the following: "article 2 Transitional °.-during the first half of the year 2016, the Ministry of economy, development and tourism will be conducting a study and evaluation of the present law as instrument of development for the realization, by the private sector, research and development activities, and as instrument of incentive to enhance the link between the research centres and the private sector concerned.

The above study must be carried out at least an analysis about the effect or impact that this law had in the creation of new centers of research, and the quality of the same, as well as the improvement of existing research centres to the date of entry into force of this law, mainly in terms of infrastructure and qualified personnel to carry out the work of research and development; its impact on companies or taxpayers involved, in terms of the incorporation of the results of research and development to their processes, expenditure committed to research and development, the increase in the competitiveness of such companies, the value increases experienced by them during the research and development. The mentioned study should include, in general and in aggregate terms, the same information referred to in article 27 of this law. The survey and evaluation referred will be public knowledge, and must be published in electronic or digital form by the concerned Ministry, in the first half of the year 2017. The foregoing is without prejudice to the assessment that the Ministry of economy, promotion and tourism will be the second half of the year 2015 concerning the use of this law by the private sector. This assessment will be public knowledge, and must be published in the electronic, digital and printed form by the concerned Ministry, in the month of June 2016. "."