Taxes for foreigners in Uruguay individuals

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Uruguay taxes for individuals

1Personal income tax (IRPF)
Personal Income Tax (IRPF) is one of the israel phone number library most important taxes for individuals in Uruguay. This tax applies to income generated within the country through work activities, rentals, investments and pensions. The rates are progressive and depend on the type and level of income:

Employment income: taxed between 0% and 36%, depending on the bracket.
Capital gains income: such as interest and dividends, are taxed at fixed rates between 7% and 12%.
Property income: Rental income is taxed at a flat rate of 12%.
Example: If you work in Uruguay and your annual salary is 600,000 Uruguayan pesos (US$15,385), the first 408,000 Uruguayan pesos (US$10,462) would be exempt from tax. The remaining income would pay between 10% and 15%, depending on the bracket.

Wealth tax
The wealth tax is levied on the total value of the assets of individuals that exceed the established minimums. For foreign tax residents, this tax applies to assets in Uruguay as well as those from abroad. For non-residents, it only affects assets located in the country. The rates range between 0.7% and 2.75%, depending on the value of the assets.