Uruguay is one of the smallest countries on the South American continent and is home to over 3 million people, of whom approximate the half live in the metropolitan area of its capital Montevideo. Low, rolling plains in the south and low plateau in the north shape the landscape of Uruguay.
Often referred to as one of the most liberal nations in the world, Uruguay is one of the most socially developed nations, outstanding regionally and performing well globally on areas like personal rights, tolerance and inclusion issues. Uruguay is safe, progressive, stable and culturally sophisticated. It has a low unemployment rate and is a high income per capita. Peace, lack of corruption, press freedom, quality of living, and an open democracy are further factors which makes Uruguay a popular place for workers abroad.
Uruguay is an important exporter of combed wool, malt, rice, and milk, with the Port of Montevideo housing the most advanced container terminal port in South America. The first exporter of software from South America, they appreciate innovation and have a well-developed national infrastructure.
Contracting in Latin America is not a simple task and has many on-costs for employers. Most in country tax laws do not recognise contractors per se, hence contract workers may need to be remunerated as employees, taxes withheld and paid to various city, state and federal governments, and reserve funds held for other entitlements until end of contract. Please contact CXC Global for professional advice on the specific legislation applying in the country in order to facilitate contractors and foreign nationals working in Uruguay. Forward planning is of the essence to optimize costs. Uruguay has entered into Double Taxation Treaties with other countries.
For foreign national contract workers, contracting in Uruguay, it would be wise to consult with CXC Global on the best way to structure, and how best to balance your taxation.
With our extensive experience and expertise in contractor management, and assisting organisations with their contingent workforce, CXC Global has the resources and solutions to manage the administration process associated with contracting in Uruguay, facilitating accounting services and administration, local tax calculations, social security registration, tax balancing and preparation of personal income tax return at the end of the tax year.