Cuba announces tax break for private businesses

[Judi Lynn]

Friday, May. 27, 2011
Cuba announces tax break for private businesses
By PAUL HAVEN - Associated Press

HAVANA — Cuba announced new measures Friday to spur the island's push into private enterprise, instituting a moratorium on payroll taxes for small business owners and loosening limits on the size of private restaurants.

Under the new guidelines, anyone who hires between one and five workers will not be subject to payroll taxes during 2011.

The measure was adopted at a recent Cabinet meeting chaired by President Raul Castro and announced in Friday's issue of the Communist Party newspaper Granma. It applies to all small business owners, but is likely to have its greatest effect on private restaurants and cafes that employ waiters and cooks.

The government said it will allow such establishments to serve up to 50 diners at a time, up from the 20 that had been permitted previously. Many private restaurants - known as "paladares" - already openly skirted the size limits.

More:
http://www.thestate.com/2011/05/27/1836573/cuba-announces-tax-break-for-private.html

[flamingdem]

1. Why on earth would someone unrec this interesting and important news?

Maybe someone in the US administration might even read it someday!