Overview

Capital
Monetvideo
Currency
Uruguayan Peso

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Taxes

Employer
3% - SNS
6.9% - 27.5% - Risk Fund
0.125% - Labor Re-conversion Fund
7.5% - Pension Fund
Employee
5% - SNS
0.125% - Labor Re-conversion Fund
15% - Pension Fund

Minimum Wage

General
Minimum wage is 10,000 Uruguan Pesos (Approx. $349 USD) monthly.

VAT

General
VAT is 22% standard rate.

Mandatory Benefits

Pension Fund
Employers must contribute 7.5% of employees wages.
Employees must contribute 15% of their wages.
Social Security
Employers must contribute 3% to national health insurance, 0.125% to the labor re-conversion fund, and between 6.9% - 27.5% to labor risks.
Employees must contribute 5% to national health insurance, and 0.125% to labor the re-conversion fund.
Advance Notice
There is no regulation on notice of resignation.
Severance Pay
Employees are entitled to severance payments which includes one months salary for every year employed up to 6 months of salary.

Termination

Termination Process
Employers must provide one days written notice.