Is foreign income taxable in Uruguay?

Foreign-sourced holding income is not taxed by IRNR, it is only taxed by IRPF. The option can be used only once and is applicable for the next five years. The general rate is 12% for taxed holding income and capital gains in both, IRPF and IRNR. A 7% rate is applicable in the case of dividends of Uruguayan companies.

How much tax do you pay in Uruguay?

IRPF is levied on capital investments (e.g. interest, rents, royalties, capital gains) at a flat rate of 12%, with some exceptions. This tax is basically levied on gross income….Income tax on resident individuals (IRPF)

Is Uruguay a tax haven?

Mild climate, beautiful beaches, friendly and educated people, and no tax on worldwide income – Uruguay has the right to be called one of the most attractive tax havens in the world. Situated between Argentina and Brazil, Uruguay has a population of over 3 million people.

Does Italy have high taxes?

Taxation of an individual’s income in Italy is progressive. In other words, the higher the income, the higher the rate of tax payable. In 2021 the tax rate for an individual is between 23%-43%, In addition to direct taxation (IRPEF), there is also a regional tax of 0.7%-3.33% and a municipal tax of 0%-0.9%.

Do expats pay taxes in Uruguay?

Currently, no foreign income is taxed in Uruguay, including wages earned abroad or income from assets located overseas.

Is Uruguay good for expats?

Expats in Uruguay agree that the best thing about living in Uruguay is the friendly people. In addition to the friendly locals, the weather, beautiful beaches and stable economy make it a great place to live. Expats in Uruguay have a variety of healthcare options available to them.

What is Spain tax rate?

How are taxes paid in Italy?

Earned income is taxed in Italy at the national level using progressive rates. There is also an income tax at the municipal and regional levels. Municipal tax rates vary by municipality, and are between 0.1% and 0.8%. Regional tax rates range between 1.2% and 2.03%.