Uruguay Tax Codes

Tax codes determine how much tax is paid on each transaction line item. For NetSuite to calculate correct values on transaction records and tax reports, make sure that the tax codes for Uruguay are set up correctly.

For more information on tax codes, see Tax Code Properties and Creating Tax Codes.

Important Things to Note

  • The International Tax Reports SuiteApp only supports 139 unique tax codes per tax period for each country.

  • You can use more than 139 tax codes for each country if these tax codes are not used in the same tax period.

Tax Code Table for Uruguay

The following table shows the tax properties required to correctly generate the Uruguay tax report provided by the International Tax Reports SuiteApp. The tax code names or letters used in the following table are suggested names or default system preferences. You can rename the tax codes. Tax reports identify transactions by looking at the tax code properties, not the tax code names.

On the New Tax Code or Edit Tax Code page, check the boxes of the properties that apply to the tax code. For more information about tax code properties, see Tax Code Properties.

Important:

Please consult your tax agency for the correct tax rates.

Tax Code

Description

Rate

Property

Tax Type

Purchase Tax Account

Sales Tax Account

Available On

E-UY

IVA Exempt

0%

Exempt

IVA_UY

VAT on Purchases UY

VAT on Sales UY

Both (Sales and Purchases)

I-UY

IVA Import

22%

Import

IVA_UY

VAT on Purchases UY

 

Purchases

IE-UY

IVA Import Exempt

0%

Import

Exempt

IVA_UY

VAT on Purchases UY

 

Purchases

R-UY

Reduced IVA Rate

10%

Reduced Rate

IVA_UY

VAT on Purchases UY

VAT on Sales UY

Both (Sales and Purchases)

S-UY

Standard IVA Rate

22%

Default Code

IVA_UY

VAT on Purchases UY

VAT on Sales UY

Both (Sales and Purchases)

SS-UY

IVA Suspended

0%

Suspended

IVA_UY

VAT on Purchases UY

VAT on Sales UY

 

X-UY

IVA Export

0%

Export

IVA_UY

 

VAT on Sales UY

Sales

XE-UY

IVA Export Exempt

0%

Export

Exempt

IVA_UY

 

VAT on Sales UY

Sales

Related Topics

General Notices