Decree 2,287 that establishes an income tax exemption for income derived from agriculture, forestry, livestock, poultry, fisheries, aquaculture and fish farming activities was published in the Official Gazette and entered into force on 28^th March 2016. The exemption is applicable from 1^st January 2016 until 31^st December 2018. The main provisions of the Decree are as follows:

• the exemption will apply to taxpayers registered as beneficiaries of the exemption and carrying out any of the exempt activities;
• the exemption applies to the primary exploitation of the exempt activities such as the production of fruits, products or goods obtained from nature;
• the Decree creates the processes categorized as agriculture primary activities and the conditions to consider an activity to be an exempt primary exploitation;
• For enjoying exemptions, the recipients must invest 100% of the income tax that they would have paid in direct investments regarding the exempt activities, such as research, scientific and technological development, and improvement of the productivity or in capital assets. They need to file a yearly information return with the Agriculture or the Fishing Ministry, whichever applies before each March 31 and need to file an affidavit reporting the amounts invested within 15 business days after the investment is made. The beneficiaries must comply with the obligations and duties required under the Income Tax Law and comply with the invoicing regulations and keep a special accounting book recording all transactions related to the exempt activities.