On 9 September 2019, the Government of Uruguay approved the pending income and capital tax treaty with Brazil. The treaty, signed 7 June 2019, is the first of its kind between the two countries. Taxes Covered The treaty covers Brazilian federal income tax and the social contribution on net profit. It covers Uruguayan income tax on economic activities, personal income tax, non-resident income tax, social security assistance tax, and property tax. Residence If a company is considered resident in both Contracting States, the competent authorities will determine the company's residence for the purpose of the treaty through mutual agreement. If...