Uruguay: Reminders for CRS compliance and reporting deadline
The deadline for submitting CRS reports through the AEOI portal is June 30, 2025.
The tax authority (Dirección General Impositiva – DGI) on June 9, 2025, issued a press release urging reporting financial institutions to consider the OECD's risk analysis report—Residence / Citizenship by Investment Schemes—which addresses certain residence by investment (RBI) and citizenship by investment (CBI) schemes that may be misused by individuals to hide their foreign assets by avoiding reporting under the common reporting standard (CRS).
Consequently, when applying the due diligence procedures outlined in Decree No. 77/017, reporting financial institutions must focus on identifying and closely monitoring the declared tax residency of account holders in jurisdictions that the OECD has identified as potentially risky in its report.
Furthermore, the DGI reminds reporting financial institutions of their obligation to consider the general description of national regulations across various jurisdictions that govern the issuance, structure, use, and validity of tax identification numbers (TINs) or their functional equivalents, when reporting financial account information under CRS, as detailed in Article 16 of Decree No. 77/017.
Additionally, reporting financial institutions are reminded that the deadline for submitting CRS reports through the AEOI portal is June 30, 2025.
Read a June 2025 report prepared by the KPMG member firm in Uruguay