CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Cuba reduces taxes to stimulate self-employment

05-28-2011 12:08 BJT

HAVANA, May 27 (Xinhua) -- 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.

Restaurant owners, landlords, agricultural products sellers, private taxis and cargo carriers will benefit from these measures.

Cuba has so far issued licenses to 314,538 "self-employed" workers. The country has a population of 11.2 million.

In October 2010, local authorities approved 178 categories of self-employment, seeking to find "new ways of working" as the country decided to streamline the bloated state-run firms to "update" its socialist model.

The expansion of the private sector is one of the major economic reform measures proposed by Cuban leader Raul Castro and ratified at the Sixth Congress of the Cuban Communist Party in April.

Raul Castro stressed at the Congress the need to rectify "old mistakes that have damaged the Cuban economy for the last 50 years".

Editor:Zheng Limin |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program