Business Reforms in Uruguay
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: Uruguay made starting a business more costly by increasing the value of the official fiscal unit used for the payment of government fees.
Paying Taxes: Uruguay made paying taxes easier by introducing an electronic system for paying social security contributions. Online filing was already in place.
Starting a Business: Uruguay made starting a business more difficult by increasing incorporation costs.
Registering Property: Uruguay made registering property more difficult by requiring by law a certificate of connection of the property to the public sewage system to complete the process of transferring and registering property.
Paying Taxes: Uruguay made paying taxes easier for companies by continually upgrading and improving the electronic system for filing and paying the major taxes.
Trading across Borders: Uruguay made trading across borders easier by implementing a risk-based inspection system that reduced customs clearance time for both exports and imports.
Enforcing Contracts: Uruguay made enforcing contracts easier by simplifying and speeding up the proceedings for commercial disputes.
Trading across Borders: Uruguay made trading across borders easier by implementing an electronic customs declaration system.
Paying Taxes: Uruguay made paying taxes easier for small and medium-size companies by fully implementing an online filing and payment system for capital, value added and corporate income taxes and by improving the online facilities for social security contributions.
Trading across Borders: Uruguay reduced the time to import by improving port efficiency and introducing electronic payment and predeclaration systems for customs.
Starting a Business: Uruguay made starting a business easier by establishing a one-stop shop for general commercial companies.
Getting Credit: Uruguay improved its credit information system by introducing a new online platform allowing access to credit reports for financial institutions, public utilities and borrowers.
Registering Property: In Uruguay the Municipality of Montevideo made registering property easier by eliminating the need to obtain a mandatory waiver for preemption rights.
Registering Property: Uruguay made transferring property more difficult through a new law giving preemption rights to the Municipality of Montevideo and thus adding a procedure—though at the same time it made transferring property easier through new online procedures.
Resolving Insolvency: Uruguay improved its insolvency process through a new insolvency law aimed at keeping a larger number of financially distressed companies operating as a going concern.
Starting a Business: Uruguay made starting a business easier by eliminating the minimum capital requirement.
Paying Taxes: Uruguay made paying taxes easier for companies through a new tax law abolishing COFIS (a 3% sales tax) and reducing the value added tax rate.
Trading across Borders: Uruguay reduced the time for exporting and importing by implementing an electronic data interchange system and through improvements in the banking sector.
Paying Taxes: Uruguay made paying taxes easier and less costly for companies by eliminating certain taxes, combining social contributions and reducing the profit, personal income and value added tax rates.