Uruguayan Government establishes prioritized withholding order on yields of capital

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EY Global

23 Jan 2024
Subject Tax Alert
Categories Corporate Tax
Jurisdictions Uruguay
  • A new Executive Office Decree establishes a prioritized withholding order on yields of capital.

According to Decree No. 12/024, if more than one Non-Resident Income Tax (IRNR) or Personal Income Tax (IRPF) withholding agent is designated with respect to the same yield of capital and one of the withholding agents is an open investment fund management company, that company will be the entity required to withhold for the yield of capital paid or made available to its shareholder. The remaining agents will be exempt from the obligation to withhold, provided that the corresponding withholding receipt is presented to them.

The Decree No. 12/024 is pending publication in the Official Gazette and will be effective from publication. It can be accessed here (pdf) (only in Spanish).


Contact Information

For additional information concerning this Alert, please contact:

EY Uruguay, Montevideo
  • Rodrigo Barrios | rodrigo.barrios@uy.ey.com
  • María Inés Eibe | ines.eibe@uy.ey.com
  • Piero de los Santos | piero.de.los.santos@uy.ey.com
  • Lucia Giagnacovo | lucia.giagnacovo@uy.ey.com
Ernst & Young LLP (United States), Latin American Business Center, New York
  • Lucas Moreno | lucas.moreno1@ey.com
  • Ana Mingramm | ana.mingramm@ey.com
  • Pablo Wejcman | pablo.wejcman@ey.com
  • Enrique Perez Grovas | enrique.perezgrovas@ey.com
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
  • Lourdes Libreros | lourdes.libreros@uk.ey.com
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
  • Raul Moreno, Tokyo | raul.moreno@jp.ey.com
  • Luis Coronado, Singapore | luis.coronado@sg.ey.com

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

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