Uruguay-Ratification of TIEA with Australia and Canada

01 July, 2014

The government of Uruguay has announced that it has ratified the tax exchange information agreements with Australia and Canada. The TIEA between Australia and Uruguay was signed on 10 December 2012. To terminate the agreement either party will have

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Canada – Uruguay: TIEA ratified by Uruguay

23 June, 2014

According to the way of Law No. 19.223, Uruguay has ratified the Canada - Uruguay Tax Information Exchange Agreement (TIEA) on June 13,

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Uruguay-Temporary reduction of VAT on purchase by debit cards and credit cards

10 June, 2014

The government of Uruguay is planning to temporarily cut VAT by 4% on purchase by debit cards and by 2% on that for credit cards. The Economy Minister announced on 5 June 2014 that all debit card and electronic payment purchases with indexed units

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Uruguay’s Tax Authority Reveals 2014 Targets

16 March, 2014

The Uruguayan tax authority (DGI) has recently revealed its 2014 audit targets. For 2014, the DGI indicated that it plans to conduct 1,350 tax audits in the year. This includes 90 audits for taxpayers whose turnover exceeds UYU50m (USD2.2m), and at

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Uruguay – Relief from compliance in respect of marketing and advertising expenses

09 March, 2014

Taxpayers are no longer required to submit certain information to the tax administration (Dirección General de Impuestos—DGI) with respect to income tax deductions or value added tax (VAT) calculations related to expenses incurred for marketing

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Uruguay: Extension of tax refund for exports

17 February, 2014

Uruguay has extended the 4% tax refund for exports of specific products to 30 June 2014 through Executive Decree 393/013. The aim of the measure is to protect different industries that were negatively affected by the decrease in international demand

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Uruguay: Tax penalties increased

08 January, 2014

Decree No. 402/013, was published in the Official Journal (Diario Oficial No. 28,870) on 23 December 2013. This increased the penalties on tax infringements and such penalties applicable as from 1 January 2014 will range from a minimum of UYU290 to

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Uruguay: capital gains tax exemption on transfer of bearer shares repealed

02 January, 2014

The capital gains tax exemption on the transfer of bearer shares issued by Uruguayan companies has been removed by Art. 364 of Law No. 19,149, dated 24 October 2013.

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Uruguay – Guidance on tax implications of fees paid to foreign companies

19 November, 2013

The tax administration of Uruguay issued guidance on 29 October 2013 about the applicability of Uruguay’s non-resident income tax and value added tax (VAT) on payments of certain fees paid to foreign companies. According to the guidance foreign

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The Exchange of information agreement between United Kingdom and Uruguay was signed in London

31 October, 2013

The Exchange of Information Agreement between United Kingdom and Uruguay was signed in London on 14 October 2013. The exchange of tax information between the two countries will now be up to international standards. Uruguay is now categorized by the

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Uruguay – Taxation procedure of public companies transferred to foreign country

07 October, 2013

An advisory firm of Uruguay recently issued a report concerning the transfer of public companies to a foreign country (and vice-versa). Generally those companies are no longer subject to Uruguay’s corporate income tax (since the company is no

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Income Tax Treaty between Belgium and Uruguay signed

19 September, 2013

The Income Tax Treaty between Belgium and Uruguay was signed on 23 August 2013. Under the treaty the definition of a permanent establishment includes a building site, construction or installation project that continues for six months. The definition

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Luxembourg and Uruguay initial a tax treaty

10 September, 2013

Luxembourg and Uruguay initiated a double tax agreement (DTA) on August 27, 2013. As Uruguay is considered to be one of the leading financial centers in South America a treaty with Luxembourg would open up possibilities for investors and funds from

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Uruguay enacts limits on tax incentives

01 September, 2013

Uruguay has issued Decree No. 226/013 which introduces a new ceiling on the tax credit for donations to art and cultural projects. The new ceiling applies from 14 August 2013. Under the new provisions, the maximum amount of tax credit on donations

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Uruguay: New rules regarding foreign tax credit

01 August, 2013

The tax authorities of Uruguay issued Resolution No. 1,815/2013 regarding new rules on foreign tax credit on 26 June 2013. The resolution sets out the requirements for benefiting from foreign tax credits under the domestic law or tax treaties.

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Uruguay: National Assembly presents Budget Bill 2012

01 August, 2013

The government of Uruguay presented a Bill to the National Assembly on 30 June 2013 that reviews the 2012 Budget. Capital gains on bearer shares have become subject to individual income tax (IRPF) and non-resident income tax (IRNR) unless particular

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India: Treaty between India and Uruguay enters into force

28 July, 2013

The Income and Capital Tax Treaty between India and Uruguay entered into force on 21 June 2013. The treaty generally applies from 1 January 2014 for Uruguay and from 1 April 2014 for India. This treaty was signed in September 8, 2011. Under the

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Treaty between Finland and Uruguay enters into force

27 February, 2013

The Income and Capital Tax Treaty between Finland and Uruguay entered into force on 6 February 2013. The treaty generally applies from 1 January 2014. The treaty is based generally on the model tax conventions of the OECD and UN. The definition of a

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