Uruguay's Parliament has been sent a bill which seeks to amend the country's free zone regime, the Ministry of Economy and Finance announced recently.
The bill proposes changes to Act 15.921 aimed at promoting investment, expanding exports, increasing the use of local labor, and encouraging regional economic integration.
Act 15.921 was passed on December 17, 1987. It grants exemptions from all national taxes, including the income tax, the value-added tax, the wealth tax, and the corporation tax, for companies established in free zones.
http://www.youtube.com/watch?v=S6ZsXrzF8Cc
There are currently 13 free zones in Uruguay, most of which are located in the southwest region of the country. About 17,000 people reside in the country's free zones.
http://feedproxy.google.com/~r/tax-news/~3/ZvWJX4TB6Uc/Uruguay_Amends_Free_Zone_Rules____68432.html
