Uruguay

CIT is imposed at a rate of 25% on net income derived from business activities carried out in Uruguay. A 7% WHT is imposed on profits remitted or credited to a head office. Profits paid or credited to a non-resident head office will not be subject to WHT when they are paid out of non-taxable income for CIT purposes.

Furthermore, those profits and/or losses derived from financial operations between the branch and its head office will be disregarded for Uruguayan tax purposes (i.e. not taxed in case of income or not deductible in case of costs and/or expenses).