Uruguay

Uruguay taxes foreign-source capital income at a flat 12% for tax residents. The look-through rule attributes income from entities owned over 5% to residents, affecting those who believed offshore companies concealed earnings. US expats are particularly exposed to this tax policy.

Argentina’s state oil company has announced plans to drill off Uruguay’s coast but has not received government approval. The CEO claims the project will surpass Vaca Muerta in size, while the transfer of a block to Eni remains pending, and campaigners are challenging the move in court.

Uruguay allows foreign remote workers to bypass social security contributions, while local workers also avoid paying into the system. The tech chamber highlighted that Uruguayans earning income abroad do not contribute, and the state provides legal exemptions for foreign talent.

Uruguay's new EV tax, effective January 1, 2027, exempts cars valued under $19,000 from customs duties, imposes 5% on vehicles between $19,001 and $27,000, and 9% on those above $27,000. Tesla is affected by the tax, while cheaper Chinese EVs benefit from the exemption.

Argentina's state oil company YPF plans to begin exploratory drilling of an offshore block off the coast of Uruguay between late 2027 and early 2028. The company's chairman and chief executive, Horacio Marín, stated the area's potential could surpass the Vaca Muerta unconventional field if confirmed.

The Falkland Islands are planning a business delegation to Uruguay to purchase construction materials, with costs being a central concern. The initiative, organized by the Falkland Islands Development Corporation and the Chamber of Commerce, aims to connect local businesses with Uruguayan suppliers.

New York City hosted the largest maritime gathering in US history for America's 250th birthday, featuring ships from 20 countries and two active-duty US Navy ships. The event, organized by Sail4th 250, included a parade of tall ships and public tours of naval vessels from July 3 to July 8, 2026.

Chile’s president visited Uruguay to promote a Pacific trade corridor and urged Uruguay to join the initiative. Uruguay agreed to join Chile’s Santiago Accord against organized crime. The visit included a meeting between Chile’s president and Uruguay’s leader.

Uruguay's President Yamandú Orsi congratulated Peru's president-elect Keiko Fujimori on her runoff victory in a cross-ideological call. The interaction occurred amid Peru's government transition, with the handover scheduled for July 28.

Uruguay seeks to deploy armored Mamba vehicles donated by the United States to patrol dangerous neighborhoods, but a US-imposed peacekeeping restriction is preventing their use. The 14 vehicles were donated in 2024.

Uruguay's health ministry expanded free meningococcal vaccination to 11- and 12-year-olds in response to an unusual rise in cases, which included 20 infections and five deaths, three of which were children. The outbreak is linked to serogroup C bacteria.

Chile's President José Antonio Kast called for life sentences for leaders of organized crime and total prison isolation to prevent gang operations from behind bars during an official visit to Uruguay. He made these remarks after meeting with Uruguayan President Yamandú Orsi.

Tesla confirmed it will sell cars in Uruguay and enter Argentina, where its initial step is a charging deal with state oil firm YPF rather than direct car sales. China’s BYD already dominates the electric-vehicle market in both countries.

Uruguay's President Yamandú Orsi and Chile's President José Antonio Kast agreed to enhance bilateral cooperation against transnational organized crime following a summit in Montevideo. Their joint statement also covered security, fisheries, Antarctica, the bi-oceanic corridor, and economic integration during Kast's official visit.

Mercosur leaders emphasized the need for a regional security architecture to combat transnational organized crime during the 68th summit in Luque, Paraguay. The summit, where Paraguay handed over the pro tempore presidency to Uruguay, featured discussions on concrete goals and deadlines for the initiative.

Uruguay's President Yamandú Orsi assumed the pro tempore presidency of Mercosur, prioritizing modernization and trade opening following the provisional EU agreement. He aims to make Mercosur more dynamic and open to benefit citizens.

Colombia appointed Miguel Gómez as its finance minister, Mexico advanced in the World Cup by breaking a 40-year Azteca curse, and Uruguay implemented a tax on foreign income. The article highlights these developments as key events for July 1, 2026.

The World Cup knockouts in Latin America saw Paraguay defeat Germany, Brazil advance, and Mexico prepare for a key match at Azteca. Uruguay's tax policy begins tomorrow, and Mexico is tightening work-visa requirements.

President Yamandú Orsi's approval rating has dropped to 20% with 65% disapproval, driven by a truck scandal. His disapproval increased by 19 points since February, and approval decreased by 11 points.

Uruguay was eliminated from the World Cup after a 1-0 loss to Spain. Baena scored via a Muslera error in the 42nd minute, while De Arrascaeta did not start any group game. Messi scored his sixth goal in 2026.

Electric cars have outsold gasoline vehicles in Uruguay for the first time, driven by the region's highest fuel prices. The government is moving to reduce electric vehicle tax breaks as part of this shift.

Six Latin American teams—Brazil, Argentina, Colombia, Ecuador, Paraguay, and Mexico—advanced to the Round of 32, with Uruguay eliminated in the group stage. Their knockout matches include Argentina vs. Cape Verde, Colombia vs. Ghana, Brazil vs. Japan, Paraguay vs. Germany, and Mexico vs. Ecuador.

The World Cup knockouts begin with six Latin American teams advancing, Uruguay excluded. Colombia names its first minister, and Uruguay's tax deadline approaches by Wednesday.

Gabriel Batistuta reflects on Marcelo Bielsa's influence, calling him his mentor, following Uruguay's elimination from the World Cup. He acknowledges a breakdown within the Uruguayan team during the tournament.

Marcelo Bielsa, Uruguay's coach, refused to pose conventionally for a FIFA Club World Cup photo and later admitted not contributing to Uruguayan football after a disappointing campaign. His innovative coaching methods influenced modern football, impacting coaches like Pep Guardiola and others.

BetMGM offers up to $1,000 in no-sweat tokens over 10 days using the bonus code NYPNEWSGET for the World Cup. The promotion is tied to the Uruguay vs. Spain match.

Ecuador defeated Germany 2-1 to advance to the last 32, Paraguay also progressed, and Uruguay must beat Spain at 8pm ET in Guadalajara to secure qualification. The results highlight key Latin American teams' performances in international competition.

Uruguay's economy grew in early 2026, but investment fell to a post-pandemic low, despite stable growth, jobs, and wages. This decline highlights a productivity and profitability puzzle, according to The Rio Times.

Uruguay faces Spain in a crucial World Cup match to secure a spot in the Round of 32, while Ecuador advances after a 2-1 comeback win over Germany. Brazil, Mexico, Argentina, Colombia, and Ecuador are already through to the next stage.

Friday's World Cup group stage concludes with Uruguay needing a win against Spain to advance after Ecuador's surprise victory over Germany. Colombia's handover process begins, and Uruguay's new tax policy becomes effective next week.

The Mercosur summit on June 30 in Asunción will focus on the distribution of export quotas under the EU-Mercosur trade agreement. Paraguay is transferring its six-month presidency to Uruguay, and the meeting marks the 35th anniversary of the Treaty of Asunción.

Uruguay begins collecting a 12% tax on foreign capital income starting July 1. New residents must choose a one-time, irrevocable tax regime by July 1, including a tax holiday, reduced rate, or standard 12% rate. The tax holiday offers approximately 11 years of effectively zero taxation.

Uruguay's government will deploy twelve Mamba MK-7 armored vehicles from the National Army to patrol high-crime neighborhoods in Montevideo under police command. The measure aims to combat organized crime and is part of an agreement between the Interior and Defense Ministries, sparking political debate.

Ethiopia's ruling Prosperity Party secured approximately 90% of seats in national elections, ensuring Prime Minister Abiy Ahmed's continued leadership. Tunisia reported inflation exceeding 5% last month, leading to widespread price increases. Cape Verde drew 2-2 with Uruguay, a two-time World Cup champion, in a soccer match.

Uruguay expanded its policy to search for individuals detained and disappeared during the dictatorship by signing an accord for handling archives on human-rights violations from 1968 to 1985. The agreement, signed in Montevideo, builds on a strategic pact established in February.

HIF Global plans a $5.4 billion synthetic-fuels plant in Uruguay's Paysandú, the largest private investment in the country's history. The project's progress is stalled due to a disagreement between the company and the state over the electricity price, which constitutes 70% of the plant's operating costs.

Spain secured a 4-0 victory over Saudi Arabia, Cape Verde drew with Uruguay in Miami, and Egypt achieved their first World Cup win by defeating New Zealand 3-1. Belgium faced a 0-0 draw with Iran after receiving a red card. France is set to face Iraq next.

Uruguay canceled an 82 million euro contract with Spain for two ocean patrol ships, citing fraud allegations. President Yamandú Orsi confirmed the cancellation in February 2026, with 28 million euros already paid.

Helio Varela's second-half goal secured a historic draw for Cape Verde against Uruguay, bringing the African nation close to advancing to the knockout rounds. Egypt achieved its first-ever World Cup victory by defeating New Zealand, while Iran drew with Belgium.

Uruguay will tax foreign-source capital income at 12% under IRPF starting January 1, 2026. Withholding and advance payments for the first half of 2026 must be remitted to the DGI by July. New residents have a one-time choice outlined in the article.