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February 19, 2021
Uruguayan Executive Power modifies promotional regime for construction activities considered “great economic dimension projects”
The modifications expand the regime to investment projects of more than 20,000,000 Indexed Units (approx. US$2,250,000) and establish exemptions for certain investment projects.
In Decree No. 316/020, the Uruguayan Executive Power modifies certain aspects of Decree No. 138/020 (see EY Global Tax Alert, Uruguay's Executive Power extends tax incentives for construction activities, dated 19 June 2020) on construction projects considered “great economic dimension projects.”
The modifications include:
The decree was published in the Official Gazette and entered into force on 2 December 2020.
For additional information with respect to this Alert, please contact the following:
Ernst & Young Uruguay, Montevideo
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young Abogados, Latin American Business Center, Madrid
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin America Tax Desk, Japan & Asia Pacific