Sign up for tax alert emails    GTNU homepage    Tax newsroom    Email document    Print document    Download document

April 10, 2023
2023-0688

Uruguay enacts law with tax adjustments for PIT and Social Security Assistant Tax taxpayers

  • Uruguay's Executive Branch has enacted a new law regulating the proposed tax reductions to Personal Income Tax and Social Security Assistant Tax submitted in a previous bill to Congress.
  • The proposed tax measures will be effective for taxable events occurring on or after 31 December 2023.

On 24 March 2023, Uruguay's Executive Branch enacted Law 20,124, which includes tax reductions to Personal Income Tax (PIT) and Social Security Assistant Tax (IASS). The reductions reflect provisions initially proposed in the bill presented on 2 March 2023 (see Uruguay's President announces tax reductions that would alleviate some tax burdens for individual taxpayers and small to medium-sized companies | EY - Global, dated 16 March 2023).

The Law is pending publication in the Official Gazette and will be effective for taxable events occurring on or after 31 December 2023. It can be accessed here (pdf).

———————————————

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

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

 
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 2024, Ernst & Young LLP.

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.

 

"EY" refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

 

Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct Opt out of all email from EY Global Limited.

 


Cookie Settings

This site uses cookies to provide you with a personalized browsing experience and allows us to understand more about you. More information on the cookies we use can be found here. By clicking 'Yes, I accept' you agree and consent to our use of cookies. More information on what these cookies are and how we use them, including how you can manage them, is outlined in our Privacy Notice. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or ey.com. Please refer to the privacy notice/policy on these sites for more information.


Yes, I accept         Find out more