Visit this link for an up to date information: https://www.bizlatinhub.com/corporate-compliance-requirements-in-uruguay/ It's important to understand the local regulations in Uruguay that outline your corporate responsibilities. Find out about national taxes, social security, and corporate and labour obligations for your business.

1. Corporate Compliance
For Legal Entities in
Uruguay
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2. Uruguay’s Compliance Requirements
Regardless of their commercial activity, all legal entities located in Panama must
comply with a series of obligations managed by various government entities.
These obligations fall within the following categories:
1. Corporate obligations
2. Tax Compliance
3. Labor obligations
4. Social security

3. 1. Corporate Obligations
The legal entity has to meet certain corporate obligations to ensure that it is
compliant with local legal requirements.
a) Hold a Shareholder Meeting.
On an annual basis, depending on the yearly book closing day of the company, the
deadline is 180 days after this day.
b) Sworn Declaration to The National Tax Authority.
On an annual basis, depending on the yearly book closing day of the company
c) Update the Corporate Books to ensure that they are correct and maintain the
actual status of the company.

4. 2. Taxation
Every legal entity in Uruguay has to meet tax obligations to ensure that it is
compliant with the legal tax requirements of the National Tax Authority, DGI
(Dirección General Impositiva).
Calculation, preparation and filing of tax declarations with the DGI is required on a
monthly and annual basis. The most prevalent taxes are:
IVA – “Impuesto al Valor Agregado”
(VAT - Value Added Tax)
IRAE – “Impuesto a la renta de las actividades económicas”
(Corporate Income Tax)
Withholding Taxes – Applies for some Legal Entities, individuals and non-residents,
but if the withholding taxes are paid, the IRAE is not necessary

5. 3. Labor Obligations
Every legal entity in Panama has to meet the following labor obligations:
a) Vacations: Each worker is entitled to 20 days of paid vacation per year.
b) Additional Annual Salary: A bonus equal to 1 month of salary. This bonus
is divided in 2 parts distributed each on June and December.
c) Vacations Pay: Amount of money for the enjoyment of vacations = Net
daily wage for the vacations.
Government Entity: The Ministry of Labour and Social Security (Ministerio de
Trabajo y Seguridad Social) and the Social Security Institute (Banco de Previsión
Social) monitors the companies so the labor obligations are met, but no
reports are required

6. 4. Social Security
The legal entity is required to meet Social Security obligations:
• Health Contribution – To the BPS (Banco de Previsión Social)
and Fonasa (Fondo Nacional de Salud)
• Pension Contribution – To the BPS
• Occupational Risk Contribution – To the BSE (Banco de Seguros del Estado)
• Cesantias (Unemployment Contribution) – to the BPS

7. Schedule of Annual Corporate Requirements
Requirement to be presented Frequency Date of Filing Government Agency
Hold a Sharegolder Meeting Annual 180 days after yearly book closing day of the company -
Update the Corporate Books - After every change in the Corporate Books. -
Sworn Declaration to the DGI Annual Depending on the company’s yearly book closing day DGI
IVA (VAT) Monthly
Depending on the tax calendar of the DGI
DGI
IRAE Advancements Monthly DGI
IRAE Tax Declaration Annual DGI
Withholding Tax Annual DGI
Vacations & Vacations Pay - Depending on employee’s start date MTSS / BPS
Additional Annual Salary Annual 30th of April and 20th of December MTSS / BPS
Health Contribution Monthly
Within 20 days after the salary payment.
BPS
Pension Contribution Monthly BPS
Occupational Risk Contribution Monthly BSE
Unemployment Contribution Monthly BPS
DGI = Dirección General Impositiva (National Tax Authority)
MTSS = Ministerio de Trabajo y Seguridad Social (Ministry of Labour and Social Security)
BPS = Banco de Previsión Social (Social Security Institute)
BSE = Banco de Seguros del Estado

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