Uruguay Posts Decree on Tax Incentives for Large Scale Construction Projects

The Uruguayan General Directorate of Taxation Jan. 15 posted Decree No. 353/025, on tax incentives for large scale construction projects. The decree includes measures: 1) granting tax incentives for qualifying investments of at least 30 million pesos (US$778,077), for projects submitted by Dec. 31, 2027, and at least 60 million Uruguayan pesos (US$1.5 million), for projects submitted after that date and before Jan. 1, 2031; 2) including eligible investments made within 60 months of obtaining a construction permit with possible extensions, and stage-based progress recognition; 3) granting income tax on economic activities (IRAE) exemptions from 5 percent to 40 percent, ...