The Ministry of Economy and Finance in Uruguay updated the definition of “Shared Services Centre” and extended tax exemptions for Corporate Income Tax (CIT) and Net Wealth Tax, through the publishing of Decree No. 257/024 in the Official Gazette, on 23 September 2024.
The updated definition now includes activities such as platform maintenance, IT security, network administration, and software development for multinational entities.
Additionally, shared service centres benefiting from tax incentives under Decree No. 251/014 can extend these benefits for five more fiscal years if they create at least 120 new qualified jobs.
Taxpayers must commit to this job creation to qualify for the extension.