Taxation in Cuba

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President Raul Castro has asked Russia to consider beginning to supply Cuba with oil. Before the Soviet Union’s disintegration in 1991, the ex URSS was Cuba’s main supplier under favorable trade terms. Russia’s official news network revealed the news, allegedly in a direct request from Castro to president Vladimir Putin.

Cuba’s government has released further information on a proposed foreign investment law that will cut the profits tax in half and exempt investors from paying it for eight years in an attempt to attract capital into the communist economy.

Havana: Most Cubans have not paid taxes for half a century, but that will change under a new code starting January 1. The landmark regulations will change the relations of Cubans with their government and are a signal that market-oriented reforms, launched since President Raul Castro succeeded his brother, Fidel Castro, in 2008, are here […]

As Cuba is beginning to seriously collect taxes and gradually decentralize its fiscal system, Russia is becoming an increasingly sought-after advisor.

HAVANA – Cuba has imposed a new tax on goods brought into the country by individuals, but local businesses are saying that the change will only damage the economy and stifle small businesses.

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