Market Taxation Guide - Uruguay
This Market Taxation Guide (Uruguay) provides the following details:
- Reference information about all taxes applied at source, through Clearstream1 and its local depositories, to securities deposited in Clearstream; and
- Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream.
New and improved tax information and procedures that become available will be included on an ongoing basis.
Important note:
This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.
Withholding Tax
Debt securities | Holding restriction? | Withholding | Relief at | Quick | Standard |
No | 0 - 12%a | ||||
Government bondsa | N/A | N/A | N/A | ||
Equities | Holding restriction? | Withholding | Relief at | Quick | Standard |
No | 7% | ||||
Relief at source and reclaim of withholding tax on dividends from Uruguay equities are not available through Clearstream. | N/A | N/A | N/A | ||
a. The standard capital income tax rate is 12%. However, domestic law allows for a reduction to 0% for Government bonds.
Types of securities
The eligible securities issued in Uruguay are as follows:
Government debt securities, including:
- Letras de Tesorera (Treasury bills);
- Bonos del Tesoro (Treasury bonds);
Capital gains tax
Typically, there is no capital gains tax withheld through Clearstream on securities held in Clearstream. However, capital gains tax may be payable on specific gains. Clearstream does not assist in this regard. Please consult your tax advisor for further information.
Stamp duty
There is no stamp duty withheld through Clearstream on securities held in Clearstream. Stamp duty may however be payable on specific transactions. Clearstream does not assist in this regard. Please consult your tax advisor for further information.
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1. Clearstream refers collectively to Clearstream Banking S.A. and Clearstream Europe AG (for Clearstream Europe AG clients using Creation accounts).