Uruguay Wants Rich Expats to Pay More to Qualify for Tax Breaks
Uruguay, known as a haven for investors, is considering increasing the financial requirements for wealthy foreigners to qualify for tax breaks. President Yamandu Orsi aims to make the tax incentives less attractive, which had previously drawn around 2,000 expats to the country. The proposed changes would require a higher minimum investment and larger annual tax payments from foreign nationals seeking to take advantage of the tax benefits. This move is part of the government's efforts to address the country's fiscal challenges and ensure a more equitable distribution of the tax burden. The proposed measures have sparked discussions among the expat community and policymakers, as they aim to strike a balance between maintaining Uruguay's attractiveness for foreign investment and addressing the country's financial needs.
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