BDO in Uruguay
Cr. Nicolás Rodríguez – Business Advice – [email protected]
Introduction
Since the entry into force of the investment promotion regime stipulated in Decree No. 268/020, there has been a substantial increase in the presentation of Investment Projects.
On December 1, COMAP introduced certain adjustments to the General Basic Operating Criteria, which will take effect as of 12/18/2022.
Adjustments Regarding Eligible Investments
Investment in utility vehicles, pickup trucks and vans without a value limit, that meet certain requirements established by COMAP, will be considered eligible investment.
Currently, investments in solar panels are subject to job creation and cannot exceed 20% of the committed investment. As of the introduction of the new modifications, those companies that, according to the COMAP criteria, are considered as large energy consumers (companies that have an installed power equal to or greater than 250KW) will not be obliged to comply with said regulations. requirements.
In accordance with Decree No. 268/020, the investment in electric vehicles that meet certain technical specifications is established as a temporary benefit. Until now, the CIF value of said vehicles could not exceed US$ 60,000, this amount will be reduced to US$ 27,000.
On the other hand, the maximum prices of the seedlings and their corresponding implantation costs are also adjusted.
Adjustments regarding indicators
The Decentralization indicator works as an incentive for investment in certain areas of the country. Given the current economic situation, it seeks to promote investments in the country’s border regions, so departments such as Artigas, Salto, Paysandú, Río
Negro, Rivera and Cerro Largo, 2 points are temporarily added to the calculation of the indicator.
The indicator of Improvement of the employability of the personnel is modified, which allows obtaining scores when training employees fulfilling certain conditions. The adjustment consists of a greater description of the indicator and of the required conditions, which implies a greater degree of
requirement for the investor and an adjustment in the score received.
A new common choice indicator is introduced for all sectors called “Training practices – Dual training system”.
It promotes the hiring of employees (young people between 15 and 29 years of age, workers over 45 years of age and people with disabilities, according to Law No. 19,973) under the link of paid training practices in relation to the number of employees of the company.
The scope of the Services and Infrastructure indicator is expanded, allowing this indicator to be used in those projects that, although they do not provide accommodation, contribute to satisfy deficiencies in certain tourist areas, as well as those investments that include innovative tourist services.
Regarding the Employment Generation indicator, the functional links to be considered are expanded, being able to compute the directors without remuneration of the SAS.
The list of certifications accepted for the sector indicator Differentiation of products and processes was also updated.
Other settings
In the case of requesting an extension of the project, different information requirements are established depending on the amount of the new investment.
For extensions of up to 10% of the eligible promoted investment, no additional externalities will be required.
If the expansion is between 10% and 30% of the eligible promoted investment, it will be necessary to increase the total score of indicators under a certain proportion.
Ultimately, for expansions that exceed 30% of the eligible promoted investment, the company must submit a new project.
conclusions
The changes in the General Basic Criteria framed within the regime established in Decree N`268/020 promote greater flexibility when investing, provide new alternatives to consider and adjust certain criteria which must be kept in mind.
Undoubtedly, the investment promotion regime continues to be an extremely beneficial incentive for the investor, which should be kept in mind when investing in order to optimize their investment.
