Last reviewed - 01 July 2020

The Republic of Uruguay is located in South America, between Brazil and Argentina, with a coast on the Atlantic Ocean. It is divided into 19 departments, with Montevideo as the capital and chief port. Spanish is the official language of Uruguay, and the currency is the Uruguayan peso (UYU).

Uruguay has existed as an independent republic since 18 July 1830, when its first Constitution was approved. Since then, it has taken advantage of its natural harbour to become an important commercial centre.

In 2019, the economic activity grew 0.2% (compared to 2018), a figure that confirmed 17 years of uninterrupted growth, the longest and biggest rate expansion cycle in the country's history.

In terms of activities, telecommunications was the sector that had the greatest impact in the overall growth, increasing 3.5% year over year. Excluding that sector, the gross domestic product (GDP) dropped 0.5% last year, with most sectors of activity in recession.

In terms of components of demand, private investment growth is highlighted for the first time since 2014, and exports increased 1.2% after falling the previous year. On the other hand, private consumption continues with its deceleration, growing only 0.5%.

The new President took office on 1 March 2020. Two weeks later, plans had to be dramatically changed because of the world COVID-19 pandemic. The measures taken to control the virus generated a large shock for the economic activity. However, the trust of investors in the country was confirmed by the success of the emission of public bonds in the international market.

Uruguay's strengths in this context are a financial system less exposed to exchange rate risk, less dollarization of public debt (approximately 10%) and the investor grade. The main macro weakness is a deficit level of 5% of GDP that is expected to increase due to a drop in activity and an increase in spending in some areas, which limits government policies.

PwC Uruguay currently has offices located in Montevideo city, the World Trade Center Free Zone, Zonamerica business park, and Punta del Este, with over 400 professionals trained in audit, accounting, tax, economics, information technology (IT), human resources, and operational management. This places PwC as one of the largest professional services organisations in Uruguay.

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%)


Corporate income tax (CIT) due dates
CIT return due date

By the end of the fourth month following the date of the fiscal year-end.

CIT final payment due date

By the end of the fourth month following the date of the fiscal year-end.

CIT estimated payment due dates

Tax is paid monthly by way of advance payments.

Personal income tax (PIT) rates
Headline PIT rate (%)

Residents: 36;

Non-residents: 12

Personal income tax (PIT) due dates
PIT return due date

Residents: Between June and August, depending on the ID number.

Non-residents: In May.

PIT final payment due date

Residents: The first payment is due towards the end of August.

Non-residents: In May.

PIT estimated payment due dates

Residents - Labor income: Under employment relationship, tax is collected through monthly withholdings. Self-employed workers are required to make advanced payments on a bimonthly basis.

Residents - Other incomes: Taxpayers must make advanced payments on a monthly basis.

Non-Residents: Mainly collected by way of withholding on a monthly basis.

Value-added tax (VAT) rates
Standard VAT rate (%)

22 (reduced 10% VAT rate applicable to certain goods and services).

Withholding tax (WHT) rates
WHT rates (%) (Div/Int/Roy)

Resident: 0, 7, or 12 / 0, 7, or 12 / 0 or 12;

Non-resident: 0 or 7 / 0, 7, or 12 / 0 or 12.

Incomes obtained by entities resident, domiciled or located in LNTJs, are taxed at 25%.

Capital gains tax (CGT) rates
Corporate capital gains tax rate (%)

Capital gains are subject to CIT, taxed at 25% (there is no corporate capital gains tax in Uruguay).

Individual capital gains tax rate (%)

There is no individual capital gains tax in Uruguay. Capital gains are subject to IRPF or IRNR, taxed at 12% (with some exceptions).

Net wealth/worth tax rates
Headline net wealth/worth tax rate (%)

Individuals are subject to NWT at a progressive scale of rates.

For non-residents that are not subject to IRNR: 0.7% to 1.5%.

For residents and non-residents subject to IRNR: 0.4% to 0.7%.

Inheritance and gift tax rates
Inheritance tax rate (%)


Gift tax rate (%)


NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.