Govt ups tax 70% for recycling companies

- Friday, November 18, 2011

Govt ups tax 70% for recycling companies

Uruguayan national tax department DGI has agreed to raise tax by 70% for solid waste recycling companies to reach 8.5% of net sales.

A recent study carried out by DGI reveals that the sector's 15 largest recycling companies are generating sales of US$40mn/y, compared with US$13mn in 2003, the Montevideo government said in a release.

The companies generally purchase waste from informal garbage collectors and sell it on for recycling, as well as collecting waste from industry.

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