You can obtain important tax benefits in Uruguay if you submit your investment project to COMAP:
- Exemption from Income Tax on Economic Activities (IRAE).
- Exemption from Wealth Tax (IP)
- Value Added Tax (VAT) reimbursement.
- Exoneration of taxes and duties on the importation of goods.
Do you know the advantages of the new Decree in force?
With Decree 268/20, enacted on 09/30/20, the possibility of accessing the benefits provided by the Investment Law in force in Uruguay since 1996 was substantially improved.
- The minimum exemption was increased from 20% to 30% of the eligible investment.
- The minimum exemption period was extended from 3 to 4 years.
- The option of being evaluated by a simplified matrix through the employment generation indicator was incorporated.
- The weighting of the Employment Generation and Increase in Exports indicators was increased. The number of hours to be considered a job was reduced (from 40 to 30 hours per week).
- The exempted IRAE may reach 90% (ninety percent) of the tax payable.
- Investments made between April 1, 2020 and March 31, 2021 may be computed at 150%.
- Micro and small companies may receive an additional 10% (ten percent) IRAE benefit.
AGRICULTURAL SECTOR:
If you plan to incorporate of the following assets, you can access excellent tax benefits by simply submitting your project to COMAP:
- Water reservoirs for agricultural use that can make up for periods of water deficit (Australian tanks, wells, dams, dams, tajamares).
- Water conduction systems for agricultural and livestock use. – Irrigation systems for agricultural and livestock use.
- Water supply systems for animals.
INDUSTRY AND COMMERCE SECTOR:
- Vehicles with exclusively electric motorization with Lithium battery or formed by cells of gravimetric energy density greater than or equal to 100 Wh/kg.4
- Electric vehicle power supply systems (SAVE). 5
- Air conditioning equipment and heat pumps with Inverter technology, VRV, VRF or class A or higher according to the National Energy Efficiency Labeling System. 6 – Heat pumps with water storage.
- LED luminaires exclusively for outdoor lighting, with power greater than or equal to 25 W and luminous efficacy greater than or equal to 100 lm/W.
- Biomass stoves (wood, pellets, briquettes, others) with closed hearth or double combustion
- Building efficiency measures: o Thermal insulation in ceilings (maximum thermal transmittance U = 0.50 W/m2K).
- IE3 engines or higher.