Posted on 10/24/2010 10:36:26 AM PDT by mandaladon
HAVANA – Cubans are preparing for a new tax regime being designed by the Raul Castro government as part of its plan to widen the scope for self-employment and small business on the communist island.
Communist Party daily Granma published an extensive report explaining the “redesign of tax policy in the country’s new economic scenario.”
“More than just an administrative measure, this is also meant as a system of taxation that eliminates doubts, taboos and mistaken concepts,” Granma said.
The daily accompanied its report with a kind of tax dictionary to clear up concepts that normally do not form part of Cubans’ vocabulary such as “taxable item,” “tax category,” “taxpayer,” and “fiscal year,” among others.
To deal with the chronic economic crisis burdening the island, Gen. Castro has decided to extend private enterprise to 178 activities with a plan in which the hiring of wage-earners by private parties is one of the main innovations, since it opens the door to establishing small companies.
The self-employed will be subject to a special tax regime under which they will pay taxes on sales and services provided as well as on personal income.
(Excerpt) Read more at laht.com ...
BUMP
2010 Cuban Individual Tax
Line 1: How much do you have?_____________.
Line 2: Add 100 Pesos to line 1.______________.
Line 3: Enter total._______________.
Line 4: Send in amount on line 3, due by January 1, 2009._____________.
That could easily become the American form in our lifetimes.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.