January 4, 2023
Uruguay’s Ministry of Economy and Finance sets minimum non-taxable amount of Net Wealth Tax
On 27 December 2022, Uruguay’s Ministry of Economy and Finance issued Decree No.421/022 adjusting the Net Wealth Tax minimum non-taxable amount applicable to individuals for the fiscal year 2022.
According to the decree, the non-table amount for individual taxpayers and undivided successions, is set at UYU5,831,000 (equivalent to approximately US$145,800). For family units, the non-taxable minimum is double (approximately US$291,600).
The Decree has not been published in the Official Gazette yet; it can be accessed here.
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