Tax News Update    Email this document    Print this document  

January 27, 2023
2023-0160

Uruguay’s Executive Branch increases income limit to apply for simplified regime for Personal Income Tax

  • Uruguay's Executive Branch has increased the income limit for taxpayers to qualify for the simplified personal income tax regime for the 2023 tax period.

Taxpayers with a salary of up to UYU50,200 (approximately US$1,290) per month and UYU602,400 annually (approximately US$15,450), qualify to apply to the simplified regime with respect to personal income tax, according to Decree N°20/023, provided that they receive a salary derived from an economically dependent relationship.

The taxpayer's personal income tax cannot be assessed as a family unit and the taxpayers cannot have generated taxable income as an independent contractor in order to be eligible to apply to this regime.

The Decree No 20/023 has not been published in the Official Gazette yet. It can be accessed here (only in Spanish).

_________________________________________

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

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement