Uruguay’s tax authorities update list of low- or no-taxation countries and jurisdictions and aligns it with the transfer pricing list

In Resolution No. 001/2020 (effective 1 January 2020), Uruguay’s tax authorities align the list of low- or no-taxation (LONT) countries and jurisdictions with the transfer pricing (TP) list so that one list applies for TP and other tax purposes.

Background

Under Decree No. 393/019, countries and jurisdictions will be considered LONT for TP purposes when the following conditions are met:

• An effective tax rate of less than 12% applies to income from activities performed, goods situated (e.g., real es…