Monday, March 7th 2016 - 04:06 UTC

Tax agreement between United Kingdom and Uruguay

United Kingdom and Uruguay signed a convention to avoid double taxation and prevent fiscal evasion related to taxes on income and on capital. British Ambassador Ben Lyster-Binns and the Uruguayan Foreign Minister Rodolfo Nin Novoa signed the agreement in a ceremony at the Palacio Santos in Montevideo.

“It is a good deal for British and Uruguayan companies and individuals with interests in both countries”, said Ambassador Lyster-Binns to Uruguayan Vice President Nin Novoa

 Marcelo Mercant, President of the Uruguayan-British Chamber of Commerce, said that the convention provides security to investors of the two countries

 “It is a good deal for British and Uruguayan companies and individuals with interests in both countries. It will contribute to protecting and promoting investments”, said Ambassador Lyster-Binns. “I expect this to encourage more British investments in Uruguay.”

Marcelo Mercant, President of the Uruguayan-British Chamber of Commerce, said that this convention provides security to investors of the two countries even through changes in domestic tax law.

“The agreement is an excellent tool to further promote trade and investment between the two countries in addition to the many benefits it brings to those with existing operations in both countries”, he added.

Ambassador Lyster-Binns said that “this is an important agreement for the United Kingdom because Latin America is a region in which we haven’t had as many agreements as we would like. I hope this sets a precedent for future negotiations with other countries.”

In 2013 the United Kingdom and Uruguay signed an agreement to exchange tax information.

2 comments Feed

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1 ChrisR (#) Mar 07th, 2016 - 10:52 am Report abuse
It might even reduce my total tax as I pay both British and Uruguayan tax.

Like everything else in this country though, it will take 'ten years' to implement!
2 Stevie (#) Mar 07th, 2016 - 03:00 pm Report abuse
“Avoid fiscal evasion”
Looks like you can save up for another decade...

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