• Why invest in the vehicle and auto-part industry in Uruguay?

    autopartes

      • Over the last years, foreign investments have been made in the Uruguayan automotive industry, both in the assembly of vehicles and in the manufacturing of auto parts. The industry exports reached US$ 322 million in 2015.

     

      • According to the Investment Promotion Act, companies may be eligible for 100% deduction of the invested amount from the Corporate Income Tax, along with other tax benefits.

     

      • The industry exports receive a benefit of 10% reimbursement on the FOB value by means of credit certificates issued by the State's Tax Authority.

     

      • Uruguay has a Temporary Admission regime in place for machinery and input included in the exported goods, so import taxes are not applicable to these products (customs duties and others),

     

      • The import of parts (CKD kits) for vehicle assembling intended for the domestic market is applied reduced tariffs (2%).

     

      • Uruguay has free access to the Argentinean, Brazilian and Mexican market for automotive products, with more favorable terms for new models. Uruguay also boasts preferences when entering other regional markets, such as: Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela.