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Uruguay's New Financial Inclusion Law Lowers VAT Rate for Electronic Payment Purchases

|Approved Changes|Uruguay
Uruguay

In an effort to increase the use of electronic payments and expand access to electronic financial services, the Uruguayan government passed a new financial inclusion law on 24 April 2014. Key aspects of the law include:

  • Employees must be given the option to receive salary payments directly into a bank or e-wallet account; the payment form is required after three years
  • Beginning 1 August 2014, …

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