Transparence law

In the context of legal and regulatory provisions (Law 19,484 and Decree 77/017) approved in Uruguay, República AFISA announces it must collect certain information about the account holders' tax residence and in some cases, about the final beneficiaries thereof for the General Tax Directorate (Dirección General Impositiva), in addition to the obligation of reporting balances, averages and other remittances when certain requirements are met.

In turn, if you are a non-tax resident in Uruguay, the General Tax Directorate may exchange part or all the information with the competent authorities from the country or countries in which you are a tax resident, if an Agreement for the Exchange of Information on Tax Matters between Uruguay and their jurisdiction exists.

In this context and in accordance with the provisions of Article 44 of Decree No. 77/017, it is our obligation to previously inform our clients that the aforementioned data may be subject to the reporting requirement referred to in said regulations.