The Uruguayan government has submitted draft legislation to parliament that includes a number of tax reform measures concerning transparency and the prevention of money laundering. The main measures are summarized as follows. Financial Account Information Reporting Resident financial institutions and branches in Uruguay of non-resident financial institutions will be required to annually report to the tax authorities on account balances and income of both resident and non-resident individuals. Information will also need to be reported when the account holder is considered an entity with a high risk of fiscal evasion. Ultimate Beneficiary Reporting Resident entities and non-resident entities that have...