The Uruguayan President Luis Lacalle Pou has announced proposals for the introduction of tax cuts for individuals. The tax cuts would be provided through increased individual income tax (IRPF) deductions, including an increase in the standard deduction rate from 10% to 14% for income taxpayers with lower incomes of up to UYU 60,500 per month. Further, the deduction for dependent children would be increased from 13 BPC (UYU 73,580 pesos) per year to 20 BPC (UYU 113,200 pesos), and the credit for real estate rental (primary residence) would be increased from 6% to 8%. Tax cuts for micro and small...