ECOFIN removes Uruguay from Annex II list of pending commitments for tax purposes

Local contact

EY Global

22 Feb 2023
Subject Tax Alert
Categories Corporate Tax
Jurisdictions Uruguay European Union
  • On 14 February 2023, the European Union (EU) announced that Uruguay had recently acquired the status of a "cooperating jurisdiction without commitments assumed."

To be recognized as a cooperative jurisdiction, Uruguay, in prior years, has undertaken different measures to become more aligned with the EU Standards on collaboration between regions.

Specifically, the Economic and Financial Affairs Council of EU (ECOFIN), highlighted the regulatory modifications adopted by Uruguay that comply with a series of recommendations they had made by in 2021.

The entry into force of Law No. 20,095 helped with this favorable resolution of status as this legislation addressed certain aspects that could be considered potentially harmful and encourage unfair tax competition.

Additionally, it is important to note that the new status assigned by ECOFIN, improves Uruguay´s image on the international stage by demonstrating that the country has the willingness to cooperate on issues of good tax governance.

This announcement was published on 14 February 2023 in the Official Gazette. It can be accessed here.


For additional information with respect to this Alert, please contact the following:

EY Uruguay, Montevideo
  • Martha Roca

  • María Inés Eibe

  • Piero de los Santos

  • Lucia Giagnacovo

  • Catalina Fernández

Ernst & Young LLP (United States), Latin American Business Center, New York
  • Lucas Moreno

  • Ana Mingramm

  • Pablo Wejcman

  • Enrique Perez Grovas

Ernst & Young LLP (United Kingdom), Latin American Business Center, London
  • Lourdes Libreros
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
  • Raul Moreno, Tokyo

  • Luis Coronado, Singapore

For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert.