19 November 2024 Uruguayan Executive Power grants tax incentives to telecommunications entities - The Executive Power of Uruguay has approved new tax benefits for investments made by telecommunication entities that meet certain conditions.
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Decree No. 281/024, published in the Official Gazette on 31 October 2024, states that telecommunication entities that perform electronic surveillance activities for the investigation of crimes will benefit from a series of tax exemptions applicable to investments in electronic data processing equipment and software, made from the date of the decree until 30 June 2025. These exemptions include: - Corporate Income Tax exemptions, not to exceed 12,000,000 Indexed Units (approximately US$1.84m), with a period of three fiscal years to use the benefit
- Net Wealth Tax exemptions for the investments in electronic data processing and surveillance equipment
Affected multinational entities with interests in Uruguay should become familiar with Decree No. 281/024, which can be accessed here (only in Spanish). | * * * * * * * * * * | | Contact Information | For additional information concerning this Alert, please contact: 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 |
Document ID: 2024-2122 |
