On October 5, 2018, Decree No. 309/018 was published, which regulates the Free Zone Law No. 15,921, recently amended by Law No. 19,566 of December 8, 2017.
This law had introduced modifications in terms of requirements to operate within a Free Zone, changes in the activities that can be carried out in the aforementioned areas and other tax modifications. Decree No. 309/018 regulates these changes to the Free Zones regime.
These modifications derive from the need of Uruguay to comply with international standards in taxation, providing greater transparency and reliability to the regime. Last year the European Union had included our country in a list of countries with harmful tax regimes, in reference to the Free Trade Zone regime, which had already been observed by the OECD in the past. As a consequence, Uruguay decided to modify this regime .