03 February 2016 Uruguay extends corporate income tax exemptions for the manufacture of agricultural machinery and equipment Taxpayers that manufacture agricultural machinery and equipment should review the requirements to determine if they qualify for a CIT exemption. With the extension, taxpayers may benefit from the exemption until 2022. Uruguay has extended (Decree No. 325/015, December 7, 2015) the corporate income tax (CIT) exemptions granted for the manufacture of agricultural machinery and equipment, established by Decree No. 346/009. Decree No. 325/015 was published in the Official Gazette on December 17, 2015. a. 90% CIT exemption on the income from the promoted activities for fiscal years beginning on or after January 1, 2009 and ending on or before December 31, 2017 b. 50% CIT exemption on the income from the promoted activities for fiscal years beginning on or after January 1, 2018 and ending on or before December 31, 2022
Document ID: 2016-0235 | |||||||||||||||||||
