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January 4, 2023
2023-0022

Uruguay's Ministry of Economy and Finance sets minimum non-taxable amount of Net Wealth Tax

On 27 December 2022, Uruguay's Ministry of Economy and Finance issued Decree No.421/022 adjusting the Net Wealth Tax minimum non-taxable amount applicable to individuals for the fiscal year 2022.

According to the decree, the non-table amount for individual taxpayers and undivided successions, is set at UYU5,831,000 (equivalent to approximately US$145,800). For family units, the non-taxable minimum is double (approximately US$291,600).

The Decree has not been published in the Official Gazette yet; it can be accessed here.

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For additional information with respect to this Alert, please contact the following:

EY Uruguay, Montevideo

Ernst & Young LLP (United States), Latin American Business Center, New York

Ernst & Young LLP (United Kingdom), Latin American Business Center, London

Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific

 

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