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When in 1898, Don Sixto J. Dutra began his business in the agro-farming areas, little did he imagine that more than a century later, his name would still be firmly linked to the best Uruguayans traditions in the areas of farming business.
At present, the farm lands of Uruguay can count on one of the major agents for agro-farming of the country. Escritorio Dutra is an organization which gives assistance in agricultural and farming business and advisory services. The manner in which we render our services is ensured by a century-long tradition.
Uruguay is ranked among the top countries in Latin America – and is very well placed worldwide – according to the principal rankings produced by well- established bodies which perform surveys related to political stability and democratic strength. These indicators show that Uruguay is a country with a strong democratic tradition, based on clear government policies and comprehensive economic freedom.
What expenses does buying a farm in Uruguay involve?
Comission Fee: 3%+VAT
Notary Fee: 3%+VAT
ITP tax 1% of rateable value
Agriculture – Livestock Goods Sales Tax
The Agriculture - Livestock Goods Sales Tax (IMEBA) levies the first sale made by the producers to IRAE taxpayers of several goods such as wool, leather, live cattle, grains, milk, poultry, etc. The rates vary between 0.1% and 2.5% depending on the type of good. At the same time, the sale of these goods is levied with an additional tax of 0.6%. Agricultural companies shall have to estimate IRAE instead of IMEBA when any of the following conditions is observed:
1. For the case of Corporations, Joint Stock Companies, permanent establishments of nonresident entities or Trusts, among others.
2. When the earned income surpasses approximately US$ 210.000 (income obtained during the previous period is taken into account for the purposes thereof).
3. When the operations are carried out in plots surpassing 1,250 hectares at the beginning of the period CONEAT(*).
(*) CONEAT is an index which measures the land productive capacity. The country’s average productive capacity is 100
The Corporate Income Tax (IRAE) levies on business income at a 25% rate. Taxable income for IRAE purposes is basically net income shown by the company´s book after making various tax adjustments.
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