Uruguay published Law No. 19,889 in the Official Gazette on 14 July 2020, which includes new rules for the payment of VAT and pension contributions by new businesses under the tax regime for micro and small businesses. For taxpayers commencing activities from 1 January 2021:
- Required monthly VAT payments are reduced to:
- 25% of the monthly amount during the first year (12 months) of business activities;
- 50% of the monthly amount during the second year (12 months) of business activities; and
- 1…