Here is bit of information on taxes in Uruguay:
- Currently there is no personal tax income and no personal capital gains tax
- Outside income is not taxed
- IVI, the Uruguayan sales tax is 23%. IVI is always included in the price of the product.
- Import taxes are high: Packages over US $50 are assessed a 60% import tax
- Employment taxes for health and pension are also high
- Property taxes are low. (In Montevideo they are approx. US $15 quarterly.
Basically, the country is supported by the sales tax and the high import tax. Companies are also required to pay income tax.
Currently the government is working to make
significant changes to the tax laws. The process of changing the laws has continually been delayed, so no specific date when the changes will be complete has been established.
It’s lengthy reading, but here is a link to the Uruguayan tax book.
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Except all that changed over a year ago… July, 2007 they added:
* Personal income tax on wags
* Income tax on rental income
* Capital gains tax on sale of real estate
They changed:
* Sales tax from 23 to 22% on general merchandise
* Sales tax from 14 to 10% on qualifying food products
(neither of which seemed to result in any price reductions as the tax is included in the prices, so the price stayed the same and the amount of taxes paid went down).
What didn’t change
* Outside income is still not taxed.