The “Statute for Industrial Innovation” was amended on December 30, 2015.  Major amendments include: (1) a company may choose to either (a) deduct up to 10% of the company’s total expenditure on R&D against its business income tax payable for the next three years from the year of the R&D; or (b) deduct up to 200% of the company’s expenditure on R&D, capped at the total revenues received for transferring or licensing IP rights, against its business income tax payable for that year; (2) individuals or companies who transfer or license self-developed IP rights to a listed company, to companies whose stocks are traded on the OTC market or the emerging market, as consideration of investment may defer the total tax payable to the fifth year from the year following the year of investment; and (3) employees receiving share-based rewards may defer the tax payable with the total amount up to NT$ 5 million to the fifth year from the year following the year of payment.