Cuba reduces taxes to stimulate self-employment

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

Image via Wikipedia

From english.people.com.cn

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.

Read it here.

Advertisements

About 3xG Admin

I am interested in Gold, Silver, Energy, Geopolitics, Economics, Religion, Demography, History, Complex systems, Critical theory, Antipositivism, Sociology of knowledge and Chaos theory.
This entry was posted in Economy, Politics and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s