04 April 2017 Uruguay issues guidance on fiscal transparency law On March 27, 2017, Uruguay's President and Council of Ministers issued guidance (Decree 77/2017) on Law No. 19,484 (see Tax Alert 2016-1387), which aligns Uruguay's fiscal transparency rules with international standards on international fiscal transparency matters. The Decree clarifies which entities are obligated to report information to the tax authorities on the average balances and income held and obtained by Uruguayan tax residents and non-residents. In addition, the Decree specifies the scope and content of the information that should be reported and the obligation of the entities to provide the information. It also establishes procedures for verifying the tax residence of the account owners. Document ID: 2017-0588 |
