Last reviewed - 25 August 2022

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.

After five years of stagnation, the pandemic caused a drop in the Gross Domestic Product (GDP) in 2020 (-6.1%), which had fully recovered in 2021 (when the economic activity grew 4.4%). This recovery in GDP has been driven by three pivots: (i) the positive external shock of commodities, (ii) the construction of a new pulp mill and (iii) an incipient growth in private consumption (especially in services).

The health management of the pandemic allowed mobility to be reduced as little as possible and this avoided severe lockdowns, assisting workers who lost their jobs. For this, Uruguay has a key tool such as unemployment insurance, which allows companies to reduce their payroll and even so workers have an income for several months. At the worst moment of the pandemic, unemployment insurance grew from 46,000 people in February 2020 to 186,000 in April and May 2020. In April 2022, unemployment insurance reached 44,000.

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 investment grade. Towards the end of 2021, Uruguay has not only maintained its investment grade but has also improved the debt outlook from one of the main risk rating agencies. This is explained by good macroeconomic management and, in particular, by the reduction of the structural fiscal deficit (without considering the short-term expenses to face the pandemic).

PwC Uruguay currently has offices located in Montevideo city, in the Free Zones of World Trade Center and Zonamerica, as well as in Punta del Este, with over 400 professionals trained in audit, accounting, tax, economics, information technology, human resources, and operational management. This places PwC as one of the most developed professional services organizations 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 (%) (Dividends/Interest/Royalties)

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
Headline corporate capital gains tax rate (%)

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

Headline 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
Headline inheritance tax rate (%)


Headline 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.