Cuba reduces taxes to stimulate self-employment

A 'maquina' or 'yank tank' in Trinidad, Cuba, ...

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Cuba‘s self-employed will enjoy a significant amount of tax cuts as the government has adopted a series of measures to boost the country’s private economy, the official daily Granma reported on Friday.

The report said self-employed workers hiring between one and five employees will be exempt from certain taxes this year. Other jobs including home construction and transportation will see temporary or permanent tax cuts.

The government has also raised the seating limit in private restaurants from 20 to 50.

These measures were approved at a recent meeting of the Council of Ministers to facilitate “the rise of self-employed work as an employment alternative,” said Granma.

Apart from cutting taxes, the Cuban authorities also decided to further expand the current categories of private jobs, taking in occupations like insurance agents and wedding planners.

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