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8.1.2. Other Taxes

The following table provides an overview of other taxes that may be imposed on a company doing business in the country.

Tax Type Rate(s) Notes
Net Wealth Tax 1.5% A net wealth tax (IP) or net worth tax is levied on the net assets of a company at a rate of 1.5%. Only assets located or economically used in Uruguay are considered for computing the net worth.
Payroll Tax No There is no payroll tax separately due by companies on their total payroll expenditure. Employers are required to withhold income tax and social security premiums on behalf of their employees.
Social Security Employer Contribution 12.625% Employer social security contributions are equal to 12.625% of gross salary, including contributions for retirement, health insurance, and work recovery fund. In response to the COVID-19 pandemic, Uruguay adopted a temporary exemption to certain companies from employer retirement contributions for the period 1 April 2020 to 30 June 2021. Companies included in the ‘Industry and Commerce regime’ are exempted from social security contributions accrued during the period 1 January 2021 to 30 June 2021, provided they have an average of 19 dependent employees in the calendar year 2020 and a gross income of up to 10 million indexed units (Unidad Indexada, multiple of pesos adjusted for inflation) in the fiscal year closed prior to the effective date of the Law, i.e., 26 March 2021 (companies may opt to consider income in the 2020 calendar year where the fiscal year does not correspond to the calendar year). Further, companies undertaking specified activities relating to certain sectors (including travel and transportation, hotel and restaurant, event management, school transport, services provided by movie theaters and film distribution companies, and provision of audio-visual services for non-advertising events) are eligible for a 100% waiver of social security pension contribution for the period 1 January 2021 to 30 June 2021.
Social Security Employee Contribution 18.125% to 23.125% The employee social security contribution is equal to 15% of gross salary plus a contribution of 0.125% for a work recovery fund, and a health insurance contribution of 3% to 8% depending on salary level, the number of dependents, and whether or not a spouse is covered.
Property Tax 0.25% to 1.4% Immovable property is taxed by municipalities at rates ranging from 0.25% to 1.4%, depending on the cadastral value of the property.
Transfer Tax 4% Transfers of immovable property are subject to tax at the rate of 4% on the cadastral value of the property paid by the buyer (2%) and the seller (2%).
Stamp Duty N/A N/A
Excise Tax Varies Excise taxes are levied on goods sold and imported into Uruguay, including alcoholic beverages, tobacco products, motor vehicles, lubricants, fuels, and other petroleum products.
Customs Duty Varies Customs duties are levied on the import of most goods into Uruguay, although capital goods for industrial, agricultural, and fisheries purposes are generally exempt.
Corporations Control Tax (ICOSA) 0.75% (1.5%) ICOSA is levied upon incorporation at the rate of 1.5% on a notional basis amount set annually by the authorities, and at the rate of 0.75% on the notional basis at the end of each year. This tax is deductible from net worth tax (see above).