To help the biopharmaceutical industry overcome challenges and thus make Québec the province of choice for conducting research and development activities using the infrastructure and qualified labour it has to offer, the refundable tax credit for R&D wages will be boosted temporarily for a period of five years. More specifically, the tax legislation will be amended to allow eligible biopharmaceutical companies to benefit, for a given tax year, from a refundable tax credit for R&D wages equal to 27.5% of its eligible R&D expenses for that year.

To benefit from the refundable tax credit increase, companies must attach to their income tax return for the taxation year in question a qualification certificate issued by Investissement Québec certifying that they qualify as eligible biopharmaceutical companies for that year.