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Daily Tax Report: International

Uruguay Preparing Tax Incentives to Spur Construction: Minister

April 16, 2020, 11:14 PM

Govt is preparing tax incentives to spur large construction projects, Finance Minister Azucena Arbeleche said in an interview with radio Sarandi690.

  • Govt will “substantially“ lower $15m investment floor that applied to earlier tax breaks so more projects qualify
  • Govt is trying to condition business loans made by state-run commercial bank Banco Republica so companies maintain or increase their payrolls
  • NOTE: Uruguay’s economy is forecast to shrink 3% this year due to the impact from the coronavirus, according to the IMF

To contact the reporter on this story:
Ken Parks in Montevideo at kparks8@bloomberg.net

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