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September 7, 2022 Uruguay extends VAT reduction and tax credit on short-term rentals for tourism sector
Pursuant to the Uruguayan Government’s Decree 262/022, a VAT rate reduction applies on the following activities:
In addition, a 10.5% deduction is granted on the gross price agreed for the temporary assignment of a real estate property for tourism purposes, for assignments that do not exceed a period of four months, paid to a resident real estate manager. Both benefits will be applicable to payments made with credit or debit cards issued abroad by nonresident individuals. Decree 262/022, was published in the Official Gazette on 29 August 2022. _________________________________________ 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 LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
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