12 August 2011

CUBA: New Entrepreneurs Confront Strange New Concept...Taxes.

                                    AP/ Seattle PI


     The personal tax is a foreign concept in Cuba... where government runs the entire economy.
     But the 178,000 new private work licensees face tax rates of up to 50% on personal income, 10% on sales and some even a 25% social security tax.
     In December FM Lina Pedraza estimated that entrepreneurs would keep about 20-25% of what they make.