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.

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
S-UY	Standard IVA Rate	22%	Default Code	IVA_UY	VAT on Purchases UY	VAT on Sales UY	Both (Sales and Purchases)
R-UY	Reduced IVA Rate	10%	Reduced Rate	IVA_UY	VAT on Purchases UY	VAT on Sales UY	Both (Sales and Purchases)
E-UY	IVA Exempt	0%	Exempt	IVA_UY	VAT on Purchases UY	VAT on Sales UY	Both (Sales and Purchases)
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
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
SS-UY	IVA Suspended	0%	Suspended	IVA_UY	VAT on Purchases UY	VAT on Sales UY

Related Topics

Tax Accounting Overview

Enabling and Setting Up Taxation Features

Managing Tax Codes

Uruguay Tax Codes

Uruguay VAT Report

VAT and GST Reporting Overview

International Tax Reports

General Notices