Changes

*Under the The '''[[Innovation Promotion Act]]''' of 2015, companies will be allowed up to a 71% deduction of the lessor of either their taxable income or their innovation box profit(a calculation subject to tentative innovative profit and 5-year total research and development costs). In other words, income derived from intellectual property would be taxed at a lower tax rate. Qualified innovation intellectual property would include patents, inventions, formulas, processes, computer software, and possible other innovations.