Word is, that Cuba will establish an income tax ministry to track and collect private income taxes.

[Mika]

The ministry will have authority to enforce tax code (yet to be ironed out, looks like a progressive and bracketed tax scale might be the plan).
The ministry will have authority to seize assets and back accounts.
The ministry will have authority to charge violators with tax crimes.
Tax code violations could be enforced by license revocations, asset seizure and/or prison sentences.

Heard this today from a doctor friend in Cuba. This is an ongoing conversation in Cuba.

Some are alarmed at the changes. ;)


Just wanted to drop this bit of info off, because I saw that some here were wondering.

---

| | | | |

[Judi Lynn]

1. Sounds as if they've been working hard on it.Thnx 4 sharing what you've learned from a good source.

That's 100% more than what I've learned.

Hope you're doing o.k., Mika. :hi:

[Billy Burnett]

2. I wonder how that works.

How does the government create a new ministry? Is there going to be a vote on it in the assemblies?

[dipsydoodle]

3. They already had a National Tax Office

so presumably they'll just expand that.

Note here from 2007 ? in connection with taxation of Cuban employees of foreign jv's :

Cuba to start collecting income tax on joint venture laborers.

Cuba on Friday said it will allow foreign companies to pay Cuban employees with hard currency, a move that legalizes widespread “under the table” payments and requires workers to declare and pay tax on that income.

Cubans have lived virtually free of taxes for three decades, so for many of those employed by foreign companies, filing annual income tax returns will come as a shock.

<..............continues on the subject of “paladares" :


The National Tax Office was set up in 1995 and the next year began taxing the hard currency income of self-employed Cubans, mainly family restaurants known as “paladares,” the closest thing to a small private business in Cuba.

Their taxes must be paid in hard currency according to a scale that rises as high as 40 percent.

http://havanajournal.com/business/entry/cuba-to-start-collecting-income-tax-on-joint-venture-laborers/

:hi: