On 20 October 2014, Uruguay published law 19,289, which limits the use of the tax deduction incentive for income re-investment in certain fixed assets. The incentive benefit allows taxpayers to deduct 20% or 40% of the reinvested amount (depends on asset type) for corporate tax purposes.
Effective 30 October 2014, the law limits the use of the incentive to taxpayer's whose income in the previous tax year did not exceed 10 million indexed units (USD 1.2 million). The main purpose for the chan…