Taxpayers given longer to pay tax in Uruguay
June 22, 2010
The General Tax Bureau (GTB) in Uruguay has extended the deadline for corporate income tax (CIT) payments due after the application of the transfer pricing regime and provided additional guidelines about related parties' status.
Resolution 818/2010 issued by the GTB applies to corporate income taxpayers who fall under the rule requiring them to file a special tax return as well as fulfill the transfer pricing documentation requirements, corresponding to the fiscal year ending 2009. It allows these companies to pay the income tax originated by the application of the transfer pricing regime, within the ninth month after the closing date of the fiscal year. Until that date, the CIT payment will be exempted from any fines and surcharges.
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