Tuesday, July 17, 2012

Cuba decrees steep increase for import tax

Cuba decrees steep increase for import tax
Associated Press
Posted on July 17, 2012 at 9:00 AM

HAVANA (AP) — Cuba is implementing stiff new import taxes on merchandise
entering the country.

Starting in September, Cubans who travel abroad more than once a year
will have to pay $10 a kilogram ($4.50 a pound) for imports.

That's a lot of money in a country where government salaries average
just $20 a month. Non-residents, including Cuban-Americans visiting
relatives, will have to pay even more

The measure could substantially impact private entrepreneurs who are
trying to get new businesses off the ground under President Raul
Castro's economic reform plan.

It could also make things tougher for many other islanders who rely on
informal shipments of merchandise from overseas.

The decree was posted recently on a government website and dated July 2.


No comments: