On 24 January 2017, the Law on International Tax Transparency and Identification of Beneficial Ownership (Law No. 19.484 of 5 January 2017) was published as enacted on the Uruguay president website. The law includes four main sections, summarized as follows.
Financial Account Information Reporting and Exchange
Resident financial institutions and branches in Uruguay of non-resident financial institutions are required to annually report to the tax authorities on account balances and income o…