Uruguay's Directorate General of Taxation (DGI) has announced that the MFN clause in the 2016 tax treaty with Chile has been triggered in respect of interest payments. With effect from 1 January 2023, the withholding tax rate on interest under the treaty is reduced from 15% to 10% as a result of Chile's income tax treaty with India, which entered into force on 19 October 2022 and applies for Chile from 1 January 2023.