Argentina is one of the main hotel investors in our country. According to data provided by Danilo Astori, 11% of Argentine tourists arriving in Uruguay have their own home, which translates into numbers corresponding to 200,000 people.
Astori also pointed out that the investment for hotel-condominiums generated more than US $ 1.5 billion in a decade (2006-2016) . Most of these investments come from Argentina.
In addition, according to the specialist, the performance of the real estate sector is one of the aspects that encouraged the interest in this sector could be captured, both nationally and internationally, maintaining the growing evolution of the economy by representing 12% of the Domestic Product Gross (GDP).
As for the incentives, Astori mentioned that promotional schemes were generated in the construction sector, such as the investment promotion law with automatic and specific benefits; which stimulated the homes of social interest. On the other hand, based on the different regimes is that various tax incentives have been proposed "significant buildings (for offices or housing, corresponding to large economic projects), underground parking at the urban level, and the tourism sector (hotels, apart-hotels, hostels, motels and tourist resorts). "
Specifically, the General Law for the Promotion of Investments (No. 16.906) "grants automatic benefits such as the exemption of the Property Tax on movable property destined directly for the production cycle and for data processing equipment."
Finally, it also mentioned that it granted the exemption of Value Added Tax (VAT) and IMESI, which correspond to the importation of the referred goods and VAT refund included in the purchases in place of the same.
Material generated from the information of the site: www.elpais.com.uy