Income tax on rent, worked example, in Uruguay
April 25, 2018
| 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 |
| = Taxable Income | 18,000 | 72,000 | 144,000 |
| Income Tax Rates2 | |||
| Flat withholding tax rate of 10.50% | 1,890 | 7,560 | 15,120 |
| Annual Income Tax Due | US$1,890 | US$7,560 | US$15,120 |
| Tax Due as % of Gross Income | 10.50% | 10.50% | 10.50% |
| Source: Global Property Guide research |
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 28.80 UYU
3 Although income from leasing property is taxed at a flat 12% rate, rental income is subject to a flat withholding tax rate of 10.50% levied on the gross rent. In cases where the rental income is the sole income of the individuals, advance tax payments can be considered as the definitive tax payments.