Uruguay Sets New Amortization Rules

On 6 July 2015, Uruguay's Ministry of Economy and Finance issued Decree no. 181/2015, which sets new rules for the amortization of intangible assets.

According to the Decree, from 1 July 2015, an intangible asset must be amortized on a straight-line basis over its expected useful life, which must be established when the first tax return is filed following the assets acquisition. If the expected useful life can't be determined, the amortization period is 10 years. In either case, the useful …