Non-resident income tax (IRNR)
Posted: Sun Jan 19, 2025 5:12 am
Are you a property owner but do not have residency? If you are in Uruguay with a visa or are a non-resident, the income generated by your assets or activities in the country is subject to IRNR. It applies, above all, to income from rentals and temporary professional services at a rate of 12% .
Example: If you rent an apartment in israel phone number library Montevideo for 30,000 Uruguayan pesos ($769) per month, you will pay 3,600 Uruguayan pesos ($92) per month in IRNR.
Tax benefits for foreign companies in Uruguay
If you are reading this article because you are thinking of setting up a company, you will be pleased to know that Uruguay also has tax incentives aimed at foreign companies seeking to invest or establish themselves in the country. The aim is to reduce the tax burden, improve the profitability of projects and promote economic development. These are the most notable ones:
Exemption from IRAE for free trade zones
Companies operating within free zones in Uruguay are exempt from IRAE (Income Tax), as well as from other taxes such as VAT and property tax. These special areas (there are 13 throughout the country) are designed to encourage investment in sectors such as technology, logistics and international trade.
Example: If you rent an apartment in israel phone number library Montevideo for 30,000 Uruguayan pesos ($769) per month, you will pay 3,600 Uruguayan pesos ($92) per month in IRNR.
Tax benefits for foreign companies in Uruguay
If you are reading this article because you are thinking of setting up a company, you will be pleased to know that Uruguay also has tax incentives aimed at foreign companies seeking to invest or establish themselves in the country. The aim is to reduce the tax burden, improve the profitability of projects and promote economic development. These are the most notable ones:
Exemption from IRAE for free trade zones
Companies operating within free zones in Uruguay are exempt from IRAE (Income Tax), as well as from other taxes such as VAT and property tax. These special areas (there are 13 throughout the country) are designed to encourage investment in sectors such as technology, logistics and international trade.