Accounting in Uruguay: standards, taxes and GoSoft
Accounting guide for Uruguay: General Tax Directorate (DGI), IVA 22 %, accounting framework, books, e-invoicing, tax returns and how to set up GoSoft.
Key facts
| Item | Detail |
|---|---|
| Tax authority | General Tax Directorate (DGI) |
| Currency | UYU · Uruguayan peso |
| Tax ID | RUT |
| Consumption tax | IVA · 22 % |
| Income tax | Tax on Income from Economic Activities (IRAE): 25 %. |
| Fiscal year | Calendar year (January 1 to December 31). |
| E-invoicing | Electronic Tax Receipts (CFE): e-Factura, e-Ticket and their notes. |
Accounting framework
Full IFRS (Decree 124/011) or IFRS for SMEs (Decree 291/014), depending on the entity.
Chart of accounts
There is no mandatory chart of accounts: the company defines it according to its framework. GoSoft ships a base chart you can adapt.
Financial statements
In Uruguay the four statements are presented with these names (GoSoft uses them in its reports and PDFs):
- Statement of financial position
- Income statement
- Statement of changes in equity
- Statement of cash flows
Mandatory books and records
Journal, General Ledger and Inventory and Balance book (or their electronic equivalents), with the supporting documents for every entry.
Periodic tax returns
Monthly VAT returns and IRAE and Net Worth Tax advances; annual sworn return.
What you need to know
- VAT basic rate 22 % and minimum rate 10 %.
Taxes and withholdings in GoSoft
These are the reference taxes and withholdings GoSoft loads for Uruguay. You adjust them in Taxes and withholdings (rate, minimum base and ledger account).
| Code | Name | Type | Applies to | Rate |
|---|---|---|---|---|
IVA22 | Standard VAT 22% | VAT | sales and purchases | 22 % |
IVA10 | Minimum VAT 10% | VAT | sales and purchases | 10 % |
RET-IVA | VAT withholding | VAT | payments to suppliers (withholding) | 60 % |
RET-IRPF | IRPF withholding · personal services | Income | payments to suppliers (withholding) | 7 % |
How to set up GoSoft for Uruguay
In My company, choose the country Uruguay and the currency UYU.
When you log in again, GoSoft shows Updating the accounting setup for Uruguay: it codes the chart of accounts, loads the country's taxes and checks the settings. It happens only once.
In Chart of accounts → Options, review the coding and download the chart as a PDF for your accountant to approve.
In Financial reports → Taxes and withholdings, confirm the rates and choose the ledger account for each tax.
Record activity (manually or from the modules) and use Tax returns to prepare each period's drafts.
Rates and deadlines change. Before filing, confirm what is current at General Tax Directorate (DGI) and with your accountant.