author_ey
EY

Share This Article

Uruguayan Government proposes exemptions to aid the agricultural sector given its state of emergency

15 March 2023

|

Tax Alerts, Legislation & Policy, National/Federal Taxation

|

Uruguay

The Uruguay Executive Branch summited a bill to Parliament to relieve certain tax obligations of the agricultural sector for the first half of 2023.On 8 March 2023, the Uruguayan Executive Power proposed a bill to temporarily exempt the agricultural sector from making advanced payments of Corporate Income Tax and Net Wealth tax for the period 1 January 2023 to 30 June 2023. In most cases in the agricultural sector, when assets directly dedicated to agricultural exploitation exceed 30 million index units (approximately US$4.3 million) taxpayers are required to pay a surtax ranging from 0.75% to 1.5% depending on the value...