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Taxation In Uruguay
Taxes in Uruguay are collected by the General Taxation Directorate ( es, Dirección General Impositiva, DGI). A major tax reform bill came into force on 1 July 2007 with the number 18083. Nevertheless, something important remained: Uruguay applies the source principle, with investments located and activities performed outside Uruguay remaining untouched. Tax rates * Value added taxes (VAT): basically 22%, but some goods (pharmaceutical, etc.) are taxed with 10%, and fruits and vegetables are not taxed. As of August 2014, the Financial Inclusion Law ( es, Ley de Inclusión Financiera) established a 4% tax deduction for sales with debit cards and 2% for credit cards. * Corporate tax: it used to be 30%, since 2007 it was lowered to 25%, but special dispositions can bring this to 33%. * Individual income tax: Since 2007 there is a progressive scale of taxation, with a non-taxable minimum. The payroll tax is part of the same tax scheme. * Wealth tax: There is a non-taxable minimum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uruguay
Uruguay (; ), officially the Oriental Republic of Uruguay ( es, República Oriental del Uruguay), is a country in South America. It shares borders with Argentina to its west and southwest and Brazil to its north and northeast; while bordering the Río de la Plata to the south and the Atlantic Ocean to the southeast. It is part of the Southern Cone region of South America. Uruguay covers an area of approximately and has a population of an estimated 3.4 million, of whom around 2 million live in the metropolitan area of its capital and largest city, Montevideo. The area that became Uruguay was first inhabited by groups of hunter–gatherers 13,000 years ago. The predominant tribe at the moment of the arrival of Europeans was the Charrúa people, when the Portuguese first established Colónia do Sacramento in 1680; Uruguay was colonized by Europeans late relative to neighboring countries. The Spanish founded Montevideo as a military stronghold in the early 18th century bec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dirección General Impositiva
Taxes in Uruguay are collected by the General Taxation Directorate ( es, Dirección General Impositiva, DGI). A major tax reform bill came into force on 1 July 2007 with the number 18083. Nevertheless, something important remained: Uruguay applies the source principle, with investments located and activities performed outside Uruguay remaining untouched. Tax rates * Value added taxes (VAT): basically 22%, but some goods (pharmaceutical, etc.) are taxed with 10%, and fruits and vegetables are not taxed. As of August 2014, the Financial Inclusion Law ( es, Ley de Inclusión Financiera) established a 4% tax deduction for sales with debit cards and 2% for credit cards. * Corporate tax: it used to be 30%, since 2007 it was lowered to 25%, but special dispositions can bring this to 33%. * Individual income tax: Since 2007 there is a progressive scale of taxation, with a non-taxable minimum. The payroll tax is part of the same tax scheme. * Wealth tax: There is a non-taxable minimum wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added Taxes
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the person who ultimately bears the burden of the tax is not necessarily the same person as the one who pays the tax to the tax authorities. Not all localities require VAT to be charged, and exports are often exempt. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the consumer and applied to the sales price. The terms VAT, GST, and the more general consumption tax are sometimes used interchangeably. VAT raises about a fifth of total tax revenues bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of Uruguay
The General Assembly of Uruguay ( es, Asamblea General de Uruguay) is the legislative branch of the government of Uruguay, and consists of two chambers: the Chamber of Senators and the Chamber of Representatives. General Assembly has 130 voting members: 99 representatives and 30 senators, the Vice President of the Republic, who serves as President of the General Assembly, and the Senate has the right to vote. The legislature meets in the Legislative Palace in Montevideo. Both senators and representatives are chosen through proportional representation for five-year terms. The General Assembly holds its sessions in the Chamber of Representatives of the Legislative Palace. During the 19th century, the legislature met in the Montevideo Cabildo. History In 1828, on the initiative of Juan Antonio Lavalleja, delegates were elected to what was to be the Parliament of the Eastern Province of Río de la Plata. As a consequence of the Treaty of Montevideo, such institution became t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term '' plastic card'' includes the above and as an identity document. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of a purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a stored value with which a payment is made (prepaid card), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on the Internet and there is no physical card. This is referred to as a virtual card. In many countries, the use of debit cards has become so widespread they have overtaken checks in volume, or have entirely replaced them; in some instances, debit cards ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium), and a few gemstone-encrusted metal cards. A regular credit card is different from a charge card, which requires the balance to be repaid in full each month or at the end of each statement cycle. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged. A credit car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Tax
A corporate tax, also called corporation tax or company tax, is a direct tax imposed on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. A country's corporate tax may apply to: * corporations incorporated in the country, * corporations doing business in the country on income from that country, * foreign corporations who have a permanent establishment in the country, or * corporations deemed to be resident for tax purposes in the country. Company income subject to tax is often determined much like taxable income for individual taxpayers. Generally, the tax is imposed on net profits. In some jurisdictions, rules for taxing companies may differ significantly from rules for taxing individuals. Certain corporate acts or types of entities may be exempt from tax. The incidence of corporate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deloitte
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY (Ernst & Young), KPMG and PricewaterhouseCoopers (PWC). The firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in Janu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payroll Tax
Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their employees. By law, some payroll taxes are the responsibility of the employee and others fall on the employer, but almost all economists agree that the true economic incidence of a payroll tax is unaffected by this distinction, and falls largely or entirely on workers in the form of lower wages. Because payroll taxes fall exclusively on wages and not on returns to financial or physical investments, payroll taxes may contribute to underinvestment in human capital such as higher education. National payroll tax systems Australia The Australian federal government (ATO) requires withholding tax on employment income (payroll taxes of the first type), under a system known as pay-as-you-go (PAYG). The individual states impose payroll taxes of the second type. Bermuda In Bermuda, payroll tax accounts for over a third of the annual national bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wealth Tax
A wealth tax (also called a capital tax or equity tax) is a tax on an entity's holdings of assets. This includes the total value of personal assets, including cash, bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts (a one-off levy on wealth is a capital levy).Edward N. Wolff, "Time for a Wealth Tax?"''Boston Review'', Feb–Mar 1996 (recommending a net wealth tax for the US of 0.05% for the first $100,000 in assets to 0.3% for assets over $1,000,000/ref> Typically, liabilities (primarily mortgages and other loans) are deducted from an individual's wealth, hence it is sometimes called a net wealth tax. Of 36 OECD countries, five had a personal wealth tax in 2017 (in 1990 there were 12 countries). One of its goals is to reduce the accumulation of wealth by individuals. Critics note that a wealth tax can have the unintended consequence of wealthy entrepreneurs and businesspeople ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Uruguay
The economy of Uruguay features an export-oriented agricultural sector and a well-educated workforce, along with high levels of social spending. Tourism and banking are also important sectors; Uruguay acts as a regional hub for international finance and tourism. The country also has a history and representation of advanced workers-rights protection, with unions and the eight-hour work-day protected at the beginning of the 20th century. Though 90% of the country's population is urbanized, most of the industry and over half of the population is concentrated in the capital Montevideo. After averaging growth of 5% annually during 1996–98, Uruguay's economy suffered a major downturn in 1999–2002, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. In 2001–02, Argentine citizens made massive withdrawals of dollars deposited in Uruguayan banks after bank deposits in Argentina were frozen, which led to a plunge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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