Uruguay published Law No. 19.924 in the Official Gazette on 30 December 2020, which provides measures for the 2020-2024 Budget. One of the key tax measures of the law is the repeal of the 50% of taxable profit limit for the deduction of carried forward losses with effect from tax years ending 31 December 2020. Other measures include the following:
- Special deductible donations to certain institutions in relation to education, health, and support to children and adolescents are limited to 15%…