Uruguay has published Decree No. 427/026 of 1 October 2026, which regulates the new rules regarding withholding tax on dividends as provided by the budget law, Law No. 20.446 of 16 December 2025. As previously reported, tax is generally withheld at the rate of 7% from gross dividends distributed to non-residents when paid out of profits subject to corporate tax (IRAE), unless reduced by a tax treaty, which is unchanged under the new rules. The withholding tax treatment of dividends paid out …