January 18, 2022
Uruguay issues decree establishing threshold for net worth tax
The threshold for the net worth tax is UYU5,303,000 (approximately US$120,000) for individuals and undivided estates and double that for family units.
Uruguay has issued Decree 409/021, establishing the threshold at which the net worth tax will apply to the income of individuals, undivided estates and the family unit. For 2021, the threshold for individuals and undivided estates is UYU5,303,000 (approximately US$120,000). For a family unit, the threshold is UYU10,606,000 (approximately US$240,000).
Decree 409/021 was published in the Official Gazette and went into effect on 22 December 2021.
For additional information with respect to this Alert, please contact the following:
EY Uruguay, Montevideo
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young Abogados, Latin America Business Center, Madrid
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific