The changes would subject certain income obtained abroad by companies that are part of a multinational group to the corporate income tax in Uruguay. The tax office would have the authority to determine whether a transaction was undertaken with the principal purpose of obtaining a tax benefit. Taxpayers should continue to monitor the progress of the draft bill.Uruguay’s Ministry of Economy has published a draft bill for public comment that would change the traditional source criteria applicable for corporate income tax purposes to comply with European Union (EU) requirements.Currently, corporate income tax applies to income obtained from activities developed, assets...