In Decree No.195/023 (issued 27 June 2023), Uruguay makes permanent a corporate income tax benefit for promoters and construction companies that was set to expire after 28 February 2024.
Previously, promoters and construction companies could deduct, for corporate income tax purposes, 100% of the cost of real estate acquired from 1 July 2007 through 28 February 2024.
The decree eliminates the date restrictions, allowing these costs to be fully deducted at any time, as long as a promoter or construc…