Finally, President Luis Lacalle Pou announced the tax reform involving the first net tax cut since 2008.
Since then, the successive tax changes approved have been limited to either replacing taxes with others or increasing rates and broadening tax bases.
This time, Uruguay is embarking on a different path.
The Government forecasts that the decrease in revenues explained by the reforms (and even considering Laffer effects) will amount to $110 million (US$2.81 million).
Still, some private estimates suggest that the fiscal cost could rise to $150 million (US$3.83 million).
However, year-end targets are not compromised . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here