The Uruguay government has reportedly introduced a new incentive regime for investments in building construction and urbanization in light of COVID-19. The incentive regime provides: a corporate tax exemption of 15% to 40% depending on the size of the investment project; a net wealth tax exemption on the constructed property for a period of 8 years if in Montevideo and 10 years in other areas; and a VAT credit and import tax exemption on equipment, machines, materials, and services for the construction works and for movable assets destined for common use areas. The incentive regime is available for the construction...