Tax & Accounting Services
The firm’s Tax and Accounting department is made up of attorneys and tax accountants, who provide permanent advice and follow-up in business transactions, to ensure tax efficient solutions in every field. Our firm assists clients in tax planning before and after setting up a business, determining the best incorporation option.
Our accounting advice spans from basic bookkeeping activity to comprehensive payroll, supplier payments and foreign reporting services. Our knowledge of international tax and accounting rules are valuable to clients seeking to establish a business entity in Uruguay with efficient tax treatment overseas (generally choosing a local SRL as the operating vehicle) and requiring annual or quarterly reporting adjusted to non-Uruguayan reporting standards.
The firm also has vast experience assisting clients in obtaining tax breaks under Uruguay’s tax-break regulation. Roughly 25% of the overall private investment made in the country chooses to request some form of tax exemptions under the Investment Promotion Law # 16.909, which establishes that investments of any size are eligible for exemptions on Corporate Income Tax (up to 100% of the amount invested), Value Added Tax on goods purchased, and Asset Tax. In order to obtain the benefits, the investor must file a plan before a committee within the Finance Ministry (known as COMAP), which studies the project and grants the tax breaks based on the impact on certain factors, mainly: the creation of new jobs, the generation of exports, the incorporation of new technology, and the use of clean energy.
Our firm assists both local and foreign clients in preparing the investment plan and tax-exemption request, and the subsequent follow-up and reporting of investments executed.
- Our Services Include:
- Tax advice
- Filings with tax authorities and other regulatory bodies
- Tax-exemption filings
- Reporting to foreign parent companies
- Transfer Pricing
- International Tax Structures
- Tax Compliance
- Payroll payments
- Supplier payments
- Social security payments
Andersen is the Uruguayan member firm of Andersen Global®, an international association of member firms comprised of tax and legal professionals worldwide.