Government Policy The government promotes investment in general, and in particular maintains a favorable policy towards foreign investment. The general regime is totally open and does not discriminate between foreign and local investors, from a tax point of view. The foreign investor enjoys the same incentives as the local investor. No prior authorization is required for foreign investment. Investment Possibilities The foreign investor can carry out any type of activity, under the same conditions as local investors. In some sectors of activity specially regulated by the State, the foreign investor may carry out activities under the public works concession regime. There is an exception for access to foreign investment that refers to the operation of radio stations and television stations: the ownership of companies that develop these activities is restricted to Uruguayan citizens. Corporate structure The foreign investor can operate in the country constituting a Uruguayan corporation - which is the most frequently used type of company - of which it can own 100% of its share capital. It can also operate through the constitution of a Uruguayan limited liability company or other types of personal companies made up of partners that are natural persons or foreign legal entities. Likewise, the foreign investor may choose to operate in the country through a foreign company, installing a branch of the same in the country. Investment incentives Current incentives, aimed at creating jobs, introducing high-tech industries and increasing exports, are available to both local and foreign investors. The most generic incentives refer to tax exemptions on investment. Financing Both branches and local companies can be financed with local banks, with loans from abroad or with their Parent Company or shareholders. Exchange market and repatriation of capital and profits: There are no limitations on the transfer of profits or the repatriation of capital, for which no authorization from the State is required. The exchange market is free, there are no limitations for the purchase or sale of foreign currency, and investments can be made in any currency. Protection of foreign investments: Uruguay has traditionally provided a security framework to the foreign investor for the effective validity of the law and for economic stability. He is also a member of international organizations that promote the security of investments, such as the Multilateral Investment Guarantee Agency (MIGA) and the International Center for Settlement of Investment Disputes, based at the World Bank. Foreign personnel There are no limitations for hiring foreign personnel. Source: Uruguay XXI www.uruguayxxi.gub.uy

Legal framework The approval of national tax laws is the power of the Legislative Power, which are then regulated by the Executive Power. The Tax Administration does not have powers to modify the tax legislation. The nineteen departments in which the national territory is divided can establish, collect and control through their Departmental Boards only certain departmental taxes. The most important departmental taxes are the Real Estate Tax, the Rolled Patent and the Bromatological Rate, but its incidence in companies in general is not significant. Main Taxes The Uruguayan tax system is based on the combined application of direct and indirect taxes. Indirect taxes

• IVA: It is a tax that taxes the internal circulation of goods and services, imports and the aggregation of value originated in the construction performed on real estate; The basic rate is 22% and there is a minimum rate of 10% applicable to certain goods and services, among which are essential products and medicines, as well as a series of goods and services exempted from the tax.

• IMESI: The Internal Specific Tax levies the first sale made by the producers or importers of certain products in the local market. Exports are not taxed. The rate varies for each item taxed and is generally set by the government within parameters established by law.

Direct taxes

• Personal income tax income exists with rates ranging from 0 to 25%
• IRAE: The Income Tax for Economic Activities (IRAE) is an annual tax that taxes at a rate of 25% the income from Uruguayan sources derived from economic activities of any nature. Rents from Uruguayan sources are understood as those obtained from activities carried out, assets located or rights economically exploited in Uruguay. Income derived from agricultural activities is also taxed by the IRAE, and in certain cases the taxpayer may choose to pay this tax or the Tax on the Disposal of Agricultural Property - IMEBA (the IMEBA is a tax that taxes the sale of certain produced by said sector).
• IRPF: The Personal Income Tax is a personal and direct tax that taxes Uruguayan source income obtained by resident natural persons. For the purposes of this tax, individuals who remain more than 183 days per calendar year in the country or who have the center of their vital or economic interests in Uruguay are considered residents. The tax is applied under a dual system that distinguishes income derived from the capital production factor (taxed at proportional rates ranging from 3% to 12%) and those derived from the labor production factor (taxed at progressive rates ranging from 0% to 25 %). The tax is annual and is settled as a rule as of December 31 of each year. Notwithstanding the foregoing, the applicable regulations provide for advances and withholdings for different types of income.
• IRNR: The Non-Resident Income Tax is an annual tax that taxes income from Uruguayan sources obtained by non-resident physical and legal personnel. The tax is applied at proportional rates ranging between 3% and 12% depending on the type of income. In general, the tax is applied through withholding through local companies that pay or credit income taxed abroad. When there is no designated withholding agent, the taxpayer must appoint a representative in Uruguay and pay the tax directly.
• IP: The Property Tax levies assets in the country -deduced certain liabilities- at the close of the annual fiscal year with rates of 3.5% for obligations and debentures, savings securities and other similar securities issued to the bearer, 2.8% for the assets of banks and financial houses and 1.5% for the rest of legal entities. Natural persons, tax the IP with progressive rates that vary from 0.7% to 2.75% (which is projected to be unified, progressively reducing them to 0.10% in 2016), and which are applied to the surplus of an individual non-taxable minimum of approximately US $ 70,000, which doubles for marriages.

International Aspects

• Activities carried out abroad: The IRAE only taxes income from Uruguayan sources, which is defined as income from activities carried out, assets located or rights used economically in Uruguayan territory.
• Off-Shore Operations Center: Financial Intermediation Companies that exclusively perform off-shore operations (IFE) are exempt from IRAE and IP. Investment Financial Corporations (SAFI) are also exempt from IRAE and pay a single tax of 0.3% on their capital and reserves. It should be noted that as of 1/07/2007, procedures for the approval of statutes may not be initiated or new SAFIs be established, and as of 01/01/2011, SAFIs must adapt to the general tax regime of the S.A. Common Corporations that carry out merchandise trading activities are subject to a preferential tax regime, paying IRAE at the rate of 25% over 3% of the profit margin.
• Free Zones: The operations carried out in Free Zones enjoy wide tax exemptions, not being achieved by internal taxes or foreign trade.

Source: Uruguay XXI www.uruguayxxi.gub.uy

• A version of the Soil Map of Uruguay is available with its legend rewritten in terms of the USDA Soil Taxonomy (1999) and a brief explanatory text with a synthesis on climate, parental material of the soils, relief and natural vegetation of the country.
• The map is made from the CRSU at 1 / 1M scale which has been simplified so that its 99 Units are reduced to 22 categories of the ST.
• The objective of this version is to disseminate internationally knowledge of those from Uruguay using a classification of greater use than the Uruguayan.
• This map is expected to facilitate researchers in the agricultural area in their scientific publications to the international academic community.

Authors :

• Ing Agr (MSc) Artigas Durán Agronomy faculty Email: aduran@fagro.edu.uy
• Ing Alvaro Califra Faculty of Agronomy / Ministry of Livestock Agriculture and Fisheries Email: acalifra@fagro.edu.uy
• Ing Agr (MSc) Juan Horacio Molfino Ministry of Livestock Agriculture and Fisheries Email: dsasig@adinet.com.uy