Angola – Tax Benefits Code: Proposal under discussion
September 28, 2020
GTU Africa now offers plans for less than €1 per day
October 8, 2020
Continuing with the goal of promoting the advantages of living and carrying out business in Uruguay, last September 30th, 2020, Uruguay published Law No. 19,904, which introduced amendments with respect to the Tax Residence’s regulations.
In this, sense, it introduced a new subsection to article 6°bis of Title 7, of 1996 Ordered Text, which allows the individuals that acquire the Uruguayan residence as of the 2020 tax period, under specific conditions, to be subject to:
a) Non-Residents Income Tax, for the tax period in which the tax residence change is verified, and during the subsequent ten tax periods, or
b) Personal Income Tax, at the tax rate provided by article 26 of this Title”
Further, it introduces a new subsection to article 26 of Title 7, of 1996 Ordered Text, by which yields arising from movable capital (capital gains) from deposits, loans, and any other capital placement or credit of any nature provided that such yields come from non-resident entities and qualify as passive income, shall be taxed at 7%. GTU will keep monitoring these matters closely and will provide you with the latest information through our updated system which gives online access to all the tax information you need.
