Corporate Tax

Uruguay Gazette’s decree amending tax break for enterprise funding initiatives for airport building

Daily tax report: International

August 24. 02.2021, 5:00 a.m.

The Uruguayan Official Gazette published Decree No. 248 on August 6, amending tax breaks for business investment projects for airport construction. The law includes measures: 1) Application of regime benefits to investment activities for the construction, conversion, expansion, maintenance and operation of airports; 2) Grant corporations an IRAE exemption of up to 90 percent on qualifying investment amounts; 3) Calculation of the investments made between April 1, 2020 and March 31, 2021 with 150 percent and between April 1, 2021 and September 30, 2021 with 130 percent for the 90 percent IRAE exemption; 4) Application of the IRAE exemption for …

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