Taxpayers that previously paid corporate income tax and net wealth tax from January to June 2021 before the exemptions were enacted may be able to recover those amounts. The procedure sets out options for taxpayers to recover the payments, including having those payments applied to another tax liability.
The Uruguayan Tax Authority issued the procedure for taxpayers to recover corporate income tax and net wealth tax paid from January to June 2021, in light of the enactment of Law No. 19,956, which established exemptions for the advanced payments of corporate income tax (CIT) and of net wealth tax (NWT) accrued from January to June 2021.
Small taxpayers that paid the CIT and NWT before the enactment of the law may choose to: (1) treat the payments as advanced payments of CIT or NWT for July 2021 and thereafter, as long as the payments correspond to months of the same tax year, (2) have the payments assigned to a different tax due or (3) request credit certificates. If a taxpayer does not choose any of these options, the taxpayer must include all the advanced payments on Form 1050.
Medium-sized or large taxpayers have the same options for recovering the amounts, except they must refile Form 2176. Like small taxpayers, a medium-sized or large taxpayer that does not choose one of the options for recovering the payments must include all the advanced payments on Form 2149.
For additional information with respect to this Alert, please contact the following:
EY Uruguay, Montevideo
- Martha Roca
- María Inés Eibe
- Nadine Bruck
Ernst & Young LLP (United States), Latin American Business Center, New York
- Lucas Moreno
- Ana Mingramm
- Enrique Perez Grovas
- Pablo Wejcman
Ernst & Young Abogados, Latin America Business Center, Madrid
- Jaime Vargas
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.
