- Uruguayan taxpayers can transition from the general regime to the minimum VAT regime.
- Small businesses that exceeded the income limit can reapply if their prior year income is below the limit.
- Small businesses that opted for the general regime without exceeding the limit cannot reapply for three years.
- IRAE payers can join if their income in the last fiscal year is below the limit.
- Taxpayers must inform the DGI before the start of the fiscal year or up to one month before earning income.
- The conditions apply to fiscal years ending after January 1, 2024.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Uruguay"
- Uruguay Proposes 22% Tax on Express Shipping Imports in 2025-2029 Budget Bill
- Clothing Chamber Criticizes Ambiguous VAT on Foreign Purchases, Proposes Industry Support Fund
- Economists Criticize Opposition’s Stance on VAT for Online Foreign Purchases, Citing Lobby Influence
- Opposition Rejects Online Platform VAT, Claims It Will Harm Investment and Consumer Confidence
- Uruguay Considers Applying VAT to Online Foreign Purchases to Address Market Inequity
