Uruguay’s Executive Power modifies tax incentives to promote social interest housing

Uruguay’s Executive Power issued Decree No. 129/020, which modifies Decree Nos. 355/011 and 34/017 by changing the requirements for real estate property to be considered social interest housing (i.e., low-income housing) and, therefore, subject to tax benefits.

Projects related to the construction, recycling, expansion or renovation of housing may qualify as social interest housing, if they meet specific requirements detailed in the regulations. Under the new decree, habitable areas&nbs…