On 3 February 2010, the Uruguayan lower chamber of parliament approved the income and capital tax treaty and protocol between Uruguay and Mexico, signed on 14 August 2009. The text was approved by the Uruguayan Senate on 16 December 2009. The treaty must still be enacted by the Executive Power prior to its ratification. The Treaty was concluded in the Spanish language and generally follows the OECD Model Convention. The maximum rates of withholding tax are: -   5% on dividends; -   10% on interests, subject to the following exceptions: (i) if the beneficial owner is one of the...