Taxpayers that would be affected by this bill should continue to monitor its progress. If enacted, taxpayers should make sure they comply with the electronic payment requirement.

On May 3, 2016, Uruguay's Executive Power proposed a bill to Congress that would delay the effective date of the electronic payment requirement (Law No. 19,210) for certain transactions from June 1, 2016 to December 31, 2016.

Under the bill, electronic payments would have to be made for the following transactions beginning December 31, 2016:

— Payments for the purchase of goods or services that exceed 40,000 indexed units (IU) (currently 1 IU is approximately USD 1.10), and one of the parties to the purchase is a legal person or a natural person acting as owner of a sole proprietorship, civil partnership or similar

— Payments for the purchase of goods or services that exceed 160,000 IU, regardless of the parties involved in the transaction

— Transfers of property, transfers of promises of sale, or inheritance rights and possessory rights on real estate that exceed 40,000 IU

— Sales of new or used vehicles that exceed 40,000 IU

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