Market Taxation Guide - Uruguay

05.10.2021

This Market Taxation Guide (Uruguay) provides the following details:

  • Reference information about all taxes applied at source, through Clearstream Banking1 and its local depositories, to securities deposited in Clearstream Banking; and
  • Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.

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 customers 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
tax rate

Relief at
source

Quick
refund

Standard
refund

No

0 - 12%a

Government bondsa

N/A

N/A

N/A

Equities

Holding restriction?

Withholding
tax rate

Relief at
source

Quick
refund

Standard
refund

No

7%

Relief at source and reclaim of withholding tax on dividends from Uruguay equities are not available through Clearstream Banking.

N/A

N/A

N/A

a. The standard capital income tax rate is 12%. However, domestic law allows for a reduction for

  • Government bonds: 0%
  • Corporate bonds issued with a maturity of three years or more: 7% (Note: not applicable under Clearstream)

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 Banking on securities held in Clearstream Banking. However, Capital gains tax may be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

Stamp duty

There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

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1. “Clearstream Banking” refers collectively to Clearstream Banking S.A. and Clearstream Banking AG (for Clearstream Banking AG customers using Creation accounts)