Uruguay: Worked Example of Tax on Rent
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Tax Example: Rent
| Non-resident couple's joint monthly rental income1 | US$1,500 | US$6,000 | US$12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| Less Cost2 | (2,595) | (10,887) | (21,082) | |
| = Taxable Income | 15,405 | 61,114 | 122,919 | |
| Income Tax Rates3 | ||||
| Flat Rate | 12% | 1,849 | 7,334 | 14,750 |
| Annual Income Tax Due | US$1,849 | US$7,334 | US$14,750 | |
| Tax Due as % of Gross Income | 10.27% | 10.19% | 10.24% | |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on March 21, 2007.
Notes
Grant Thornton Uruguay is a member firm of Grant Thornton International. Grant Thornton International is not a worldwide partnership. Member firms of the international organization are independently owned and operated.
1 The property is jointly owned by husband and wife.
2 Estimated values. Allowable deductions are municipal taxes, primaria (property tax on basic education), and administration costs.
3 Income from leasing property is taxed at a flat 12% rate, effective 01 July 2007.
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