What is this project about?
The idea of the legal framework that the CUTI has finished drafting together with the Assistant Secretary of the Presidency and the Ministry of Economy and Finance (MEF) is to establish a series of worker-focused economic benefits —and not in the companies—, to encourage them to come to live and work in Uruguay.
In principle, the project foresees the generation of special and transitory tax regimes where certain exemptions apply. In this sense, the tax discount on billing is one of the key tools for the country to become attractive, and to cover a gap between supply and demand in the market for Information and Knowledge Technologies (ICT) estimated between three thousand and five thousand job vacancies.
In the medium and long term, it is planned to also include training plans for Uruguayan personnel, in line with the “Uruguay Innovation Hub”, the program also presented in east end for him Minister of Industry, Energy and Mining, Omar Paganini; that has a joint work component with the Technological Laboratory of Uruguay (LATU).
But current efforts are focused on promoting a sector that, between software and services, sells more than $1 billion annually.
Uruguay, land of opportunities
The idea of attracting foreign talent goes hand in hand with another plan by Lacalle Pou: that of attract foreigners with high purchasing power to the country.
To do this, the government lowered the minimum necessary assets to 377 thousand dollars to process the tax residence as long as they remain in the country at least 60 days a year; and opened the doors for direct or indirect investments in a company whose value exceeds 1.6 million dollars, to also be taken into account when applying for residency.
The result was an increase in the number of residencies requested, although the 20,000 annual aspirations for Lacalle Pou have not yet been reached.
Source: Ambito
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