INTERNATIONAL NETWORK OF LAW AND CONSULTING FIRMS
Ecofin concluded that Uruguay has complied with all commitments made with the European Union, having demonstrated its willingness to cooperate on issues of good tax governance. The changes introduced, both at a legal and regulatory level, are aimed to strengthen the source principle for business income.
By Decree No. 362/022 (dated November 8, 2022), modifications were introduced to the regime established for mobile (or vehicular) sources.
One of the main changes refers to passive income, which would now be taxed by IRAE if they did not meet certain conditions established in the regulations, and which is of special interest for holding companies.
