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Uruguay to Extend Income Tax and Wealth Tax Exemption to October 2021 — Orbitax Tax News & Alerts

Uruguay's Ministry of Economy and Finance has submitted draft legislation in parliament that would provide for an extension of the exemption from monthly advance corporate income tax (IRAE) payments and payments on account for wealth tax (IPAT) that was provided by Law 19.956 for the period 1 January to 30 June 2021. The exemption was provided in response to COVID-19 for qualifying taxpayers engaged in certain activities, including services for organizing and holding parties and events, travel agency services, land transportation services (tourist groups and excursions), hotel and restaurant services, and several others. If approved, the draft legislation would extend the exemption through to 30 October 2021.