January 23, 2024
Uruguayan Government establishes prioritized withholding order on yields of capital
According to Decree No. 12/024, if more than one Non-Resident Income Tax (IRNR) or Personal Income Tax (IRPF) withholding agent is designated with respect to the same yield of capital and one of the withholding agents is an open investment fund management company, that company will be the entity required to withhold for the yield of capital paid or made available to its shareholder. The remaining agents will be exempt from the obligation to withhold, provided that the corresponding withholding receipt is presented to them.
The Decree No. 12/024 is pending publication in the Official Gazette and will be effective from publication. It can be accessed here (only in Spanish).