Non-resident couple's joint monthly rental income1		US$1,500	US$6,000	US$12,000
Annual Rental Income		18,000	72,000	144,000
Less Cost2		(2,595)	(10,887)	(21,082)
= Taxable Income		15,405	61,114	122,919
Income Tax Rates3
Flat Rate	12%	1,849	7,334	14,750
Annual Income Tax Due		US$1,849	US$7,334	US$14,750
Tax Due as % of Gross Income		10.27%	10.19%	10.24%
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on March 21, 2007.

Notes

Grant Thornton Uruguay is a member firm of Grant Thornton International. Grant Thornton International is not a worldwide partnership. Member firms of the international organization are independently owned and operated.

¹ The property is jointly owned by husband and wife.

² Estimated values. Allowable deductions are municipal taxes, primaria (property tax on basic education), and administration costs.

³ Income from leasing property is taxed at a flat 12% rate, effective 01 July 2007.