Article 4 of Decree 330/16: possibility to realize up to 5% of the free trade zone income in the non free trade zone territory
Last October 13, the Uruguayan Executive Power issued Decree No. 330/016 within the frame of its investment promotion policy, setting a series of measures that intend to promote investments for the rendering of global services, scientific and technological innovation and development of international events.
Among the measures set in the Decree is the extension of letter b) of article 4 of Decree N° 496/007 issued on December 17, 2007, that sets forth the activities that can be developed from the free trade zone to non free trade local territory. In this sense the draft indicated that “management, administration, accounting and similar services rendered to related entities dedicated to the rendering of shipping and port logistics services (…)” could be carried out. The new decree broadens the object, being drafted as follows: “management, administration, accounting and similar services rendered to related entities (…)”.
Additionally, the draft modifies the percentage of the services that can be rendered from the free trade zone to non free trade local territory, setting that it cannot exceed 5% of total income of the fiscal year.