Uruguay Tax Agency Posts Consultation Clarifying Tax Incentives Under Investment Project Regime

The Uruguayan General Directorate of Taxation Oct. 11 posted online Consultation No. 6521, clarifying tax incentives under the investment project regime. The taxpayer, a company, submitted an investment project using the employment indicator and sought clarification on claiming tax incentives under the regime. The consultation clarifies that: 1) the IRAE exemption is calculated from the fiscal year in which net taxable income is obtained, and includes that year in the calculation; 2) a taxpayer can suspend the exemption for up to two consecutive or non-consecutive fiscal years; 2) a taxpayer can apply the IRAE and wealth tax (IP) benefits without ...