On 10 September 2026, the Dirección General Impositiva (DGI) published the official foreign exchange quotation table for the year 2026, to be used for tax liquidation purposes. This table establishes the mandatory conversion rates for translating foreign currency-denominated income, expenses, assets, and liabilities into Uruguayan pesos for Income Tax (IRPF/IRAE), Wealth Tax (IP), and VAT reporting. The rates are derived from the Central Bank of Uruguay’s reference rates but are fixed for the fiscal period to provide certainty and prevent manipulation through selective rate choice.
Key Takeaways
- Mandatory Conversion Standard: Taxpayers with foreign currency operations—including importers, exporters, service providers to non-residents, and holders of foreign assets—must use this table exclusively for tax return preparation, eliminating discretion in exchange rate selection.
- Annual Fixed Schedule: The table typically provides monthly or quarterly fixed rates, allowing businesses to plan hedging strategies and forecast tax liabilities with known conversion parameters for the entire 2026 fiscal year.
- Cross-Border Compliance Nexus: Correct application is essential for transfer pricing documentation, controlled foreign corporation (CFC) reporting, and foreign tax credit calculations, where miscalculated conversions can lead to double taxation or credit disallowance.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement