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'Ciudad Vieja renovation and rental income tax' Real Estate

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Ciudad Vieja renovation and rental income tax

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Forum Post
10/02/09 11:50

Sophia

Bulgaria

Ciudad Vieja renovation and rental income tax

Hello,

I am thinking about buying an old property in Ciudad Vieja to renovate and rent out. I was wondering if anyone has any experience in doing this and if so what are the pros and cons? Are the prices really as good as many articles make out? Is it difficult to find good companies to do the renovation work?

Also does anyone know about what kind of taxes I have to pay if I rent out the property? Is there a tax on rental income in Uruguay? I read that it is 12% but there may be possibility for reductions. So if I rent out an apartment for 600 dollars a month I must pay 72 dollars in tax?

Thank you for your help!

Comment #1
10/02/09 12:07

Linda

Montevideo

I would be interested in the actual procedure one has to go through to register to pay the tax and then actually make the tax filings and the forms.

Is this something you can easily do on your own, or should you hire an accountant? If you need an accountant what will be general monthly cost for that be?

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