Cuba announces tax breaks

SA Time: vrijdag 27 mei 2011 22:39:47

Cuba announces tax breaks
May 27 2011 at 06:02pm
AFP

Cuban President Raul Castro gestures while delivering a speech on
economic reforms on December 18, 2010 in the National Assembly (Cuban
Parliament) in Havana.

Cuba has announced new measures to spur the island's push into private
enterprise. The government is instituting a moratorium on payroll taxes
for small business owners and loosening limits on the size of private
restaurants.

Under the new guidelines published Friday, anyone who hires between one
and five workers will not be subject to any payroll taxes during 2011.
The measure applies to all small business owners, but is likely to have
its greatest affect on private restaurants and cafes employing waiters
and cooks.

The government also says it will allow such establishments to serve up
to 50 diners at a time, up from the 20 that had been permitted previously."

http://www.iol.co.za/business/international/cuba-announces-tax-breaks-1.1075078