05 May 2020 Uruguay enacts law to suspend tax credit granted to holders of property used for agricultural purposes The law suspends the tax credit for holders of property used for agricultural purposes for one year to help fund the COVID-19 Solidarity Fund. The suspension does not apply to family producers that are registered with the Registry of Family Producers. On April 29, 2020, Uruguay enacted a law that suspends the tax credit for holders of property used for agricultural purposes for one year from May 2020. According to the law, the suspension of the credit is intended to help fund the COVID-19 Solidarity Fund. The tax credit is based on the amount of tax that holders of property used for agricultural purposes have paid to the municipal government for the sale of livestock. The tax credit suspension will not apply to family producers that are registered with the Registry of Family Producers, including small milk producers, until May 31, 2020. The law considers small milk producers to be those that produce up to 480,500 liters of milk per year; small cheese producers are those that produce 480,500 liters of cheese.
Document ID: 2020-1210 | |||||||||||||||
