MercoPress. South Atlantic News Agency

UK/Uruguay double taxation convention takes effect

e document was signed by the former Ambassador, Ben Lyster-Binns and the Minister of Foreign Affairs, Rodolfo Nin Novoa.

The comprehensive Double Taxation Convention between Uruguay and the United Kingdom has taken effect from 1 January 2017.

 The United Kingdom and Uruguay signed a convention to avoid double taxation and prevent fiscal evasion related to taxes on income and on capital on 24 February 2016 in Montevideo.

The document was signed by the former Ambassador, Ben Lyster-Binns and the Minister of Foreign Affairs, Rodolfo Nin Novoa.

It entered into force on 14 November 2016 and has taken effect from 1 January 2017 for taxes withheld at source, and in respect of other taxes, for taxable periods (and in the case of UK Corporation Tax, financial years) beginning on or after 1 January 2017.

The Embassy will organise a seminar in March/April 2017 to highlight how this agreement benefits individuals and companies, to explain how it guarantees transparency and promotes trade in goods and services and investments.