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2.03.2010

Investing in Uruguay information

NATIONAL INTEREST, PROMOTION AND PROTECTION OF INVESTMENT

The
Law No. 16,906 declared of national interest the promotion and protection of investments made by domestic and foreign investors in the country.

The system of admission and treatment of investments by foreign investors is the same as that accorded to domestic investors.

The investments will be accepted without prior authorization or registration.

The State shall grant a fair treatment to investments, promising not to harm their installation, operation, maintenance, use, enjoyment or disposal by unreasonable or discriminatory measures.

The State guarantees the free transfer abroad of capital and profits and other sums related to investment, which will be made in freely convertible currency.


The beneficiaries of the exemptions set forth, the taxpayers of the Income Tax of Industry and Commerce, the Agricultural Income Tax and the Tax on the Disposition of Agricultural Goods, which carried industrial or agricultural activities.

The benefits established and to grant the executive branch, under the legal powers which are conferred on it, and generally operate on automatic for all subjects referred to in the preceding paragraph.


nvestment means for the purposes, the acquisition of the following property to integrate the asset or the intangible asset:

A) movable for direct production cycle.

B) Equipment for electronic data processing.

C) Improvements still affected industrial and agricultural activities.

D) Intangible property such as trademarks, patents, industrial designs, privileges, copyrights, goodwill, trade names and concessions to explore for, cultivate, extract or exploit natural resources.

E) Other assets, processes, inventions or creations that incorporate technological innovation and technology transfer involving, at the discretion of the executive.


The law include tax benefits for investors.

A) Exemption from property tax of fixed assets included in subparagraphs A) and B) of article 7, acquired from the effective date of this Act. The said goods shall be taxed as an asset for the purposes of deduction of liabilities.

This exemption shall not operate in the event that the goods referred to be valued as fictitious.

B) Exemption of Value Added Tax and Specific Internal corresponding to the importation of the goods as mentioned in previous paragraph, and returning the value added tax included in purchases in the same plaza.

1 comment:

  1. the complete compendium of uruguayan tramitations (in spanish)
    tramites.gub.uy

    And also a page with links to official web sites concerning to foreign people:
    extranjeros.gub.uy

    Nice and accurate. Enjoy it!!!

    MP

    ReplyDelete