LatinNews Daily - 25 January 2021

* Uruguay’s President Luis Lacalle Pou and Economy & Finance Minister Azucena Arbeleche have signed three decrees which increase the base from which the Impuesto Específico Interno (Imesi) tax is calculated for tobacco products, drinks, and petrol fuels. The decrees came into effect on 22 January. The base from which the 70% tax on tobacco products is calculated has increased by 6.87% for tobacco and 6.91% for packets of 20 cigarettes. In the case of drinks, both soft and alcoholic, the base for the Imesi has increased by around 6.9%. This adjustment remains almost three percentage points below inflation, which closed 2020 at 9.41%. The adjustment to the base for the Imesi tax on petrol, kerosene, and aviation fuel is also of around 6.9%, while the government maintained a 0% rate on A1 jet fuel. Last year, the government’s intake from the Imesi tax increased even as its overall tax take fell.

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