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flag Cuba Cuba: Business Environment

In this page: Accounting Rules | Tax Rates | Intellectual Property | Legal Framework | Standards | Business Practices


Accounting Rules

Tax Year
The fiscal year begins on January 1st and ends on December 31 of the same year or any 12-months period approved by the tax authorities.
Accounting Standards
In January 2006, the Cuban financial information standards (Normas Cubanas de Informaciones Financieras, NCIF) were developed, the result is a mixture of international standards and standards specific to Cuba.
Accounting Regulation Bodies
Ministry of Finance and Prices
Accounting Reports
The accounting structure includes:
- The balance sheet which must be published on the first day following the end of the registration period. It should contain the assets (long-term capital, fixed assets, current assets), liabilities (Sources of owned capital, Long-term bonds, Credits and other bonds);
- The profit and loss account : Financial result, Profit distribution, Expenses on the budget, Expenses on extra-budget expenditures and other funds, Movement of financial resources for investments in capital or other financial investments.
Publication Requirements
The Cuban accounting system imposes on public and\or private companies the duty to release, annually, a certain amount of financial and accounting information. This duty is with regard to:
- A balance sheet
- A profit and loss account
- An incoming and outgoing financial flow summary
- A report on capital evolution.
Professional Accountancy Bodies
ANEC , National association of Cuban economists and chartered accountants (Spanish only).
Certification and Auditing
The financial statements of any entity subject to taxation in Cuba must be audited annually by an auditor that is duly authorized by the Ministry of Finance.
Accounting News
Website on accounting system
Article detailing former and current Cuban accounting systems (Spanish only).

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Tax Rates

Consumption Taxes

Nature of the Tax
Sales tax - Impuesto al valor agregado
Tax Rate
There is no VAT in Cuba but there is a sales tax whose rate varies (from 2.5% to 25%) depending on the type of the product.
Reduced Tax Rate
Consumer goods serving as raw materials for industry or destined for export are exempted.
Other Consumption Taxes
Excise duties ("impuestos especiales") exist on alcohol and spirits, tobacco, fuel...

Learn more about Service Providers in Cuba on, the Directory for International Trade Service Providers.

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Corporate Taxes

Company Tax
30% of the taxable net profits.
Capital Gains Taxation
Capital gains are taxed as ordinary income.
Main Allowable Deductions and Tax Credits
Exemptions exist in certain cases: foreigners and franchise holders located in free-trade zones or industrial estates are exempt of tax on profits and labor force tax.
Other Corporate Taxes
There is a payroll tax, a stamp tax, a road tax, a land tax, a property transfer tax, social security contributions.

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Individual Taxes

Tax Rate

Income Tax Progressive rate from 5% to 50%
CUP 0 - 3,000.00 5%
CUP 3,000.00 - 6,000.00 10%
CUP 6,000.00 - 12,000.00 15%

CUP 12,000.00 - 18,000.00
CUP 18,000.00 - 24,000.00 25%
CUP 24,000.00 - 36,000.00 30%
CUP 36,000.00 - 48,000.00 35%
CUP 48,000.00 - 60,000.00 40%
Over CUP 60,000.00 50%
Allowable Deductions and Tax Credits
Various deductions may apply in computing taxable income and some categories of income are exempt.
Special Expatriate Tax Regime
There is no special tax regime for expatriates.

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Double Taxation Treaties

Countries With Whom a Double Taxation Treaty Have Been Signed
See the list of countries having a double taxation agreement with Cuba
Withholding Taxes
Dividends: 0%; Interest: 0%; Royalties: 0%.

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Sources of Fiscal Information

Tax Authorities
Official Customs website
Other Domestic Resources
Cuba Tax System

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Learn more about Taxes and Accounting in Cuba on, the Directory for International Trade Service Providers.

Intellectual Property

National Organizations
In Cuba patents, trademarks and blueprints have to be lodged at the OCPI (Cuban Bureau of industrial property). Copyrights come under the National Copyrights Center, the CENDA.
Regional Organizations
International Membership
Member of the WIPO (World Intellectual Property Organization)

National Regulation and International Agreements

Type of property and law Validity International Agreements Signed
Law Decree no. 68.  Inventions, scientific discoveries, blueprints, trademarks and brand names (March 14, 1983)
15 years
Law Decree no. 203 on brands and other distinctive signs (May 22, 2000)
15 years Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks
Law Decree no. 68.  Inventions, scientific discoveries, blueprints, trademarks and brand names (March 14, 1983)
5 years renewable for 5 more years  
Law Decree No. 14 (December 28, 1977): Law governing copyrights.
50 years WIPO Copyright Treaty
Industrial Models
Law Decree no. 68.  Inventions, scientific discoveries, blueprints, trademarks and brand names (March 14, 1983)
5 years renewable for 5 more years  

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Legal Framework

Independence of Justice
The Cuban judiciary depends on the Cuban regime which uses it to reprimand political opponents.  Many of them are charged with "dangerousness to society", a preventive measure defined as "a propensity to commit a crime". However, this charge is almost exclusively used for political opponents.
Equal Treatment of Nationals and Foreigners
Chapter 3 of the Cuban Constitution recognizes that foreigners (permanent or temporary) have the same rights and duties as those granted to Cubans (protection of the individual and property, a duty to respect the Cuban Constitution and the law, submission to Cuban jurisdiction and to judgments rendered by the Cuban courts of law).  However,  in reality,  the Cuban judiciary's political dependency means that the foreigners' rights to a fair trial are not guaranteed.
The Language of Justice
Recourse to an Interpreter
There is no particular procedure.
Sources of the Law and Legal Similarities
The main source of law is the 1976 Constitution (amended in 1992 and 2002), which is based on Spanish and American laws. Nevertheless, the legal communist theory has also contributed to it thus enabling the judicial system to be fashioned in a way as to guarantee political control over the Cuban population.

Learn more about Lawyers and Legal in Cuba on, the Directory for International Trade Service Providers.

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National Standards Organizations
ONC, National Bureau of Standards (Spanish only).
Integration in the International Standards Network
Cuba is a member of the International Organization of Standardization (ISO), of the International Telecommunication Union (ITU), of the International Organization of Legal Metrology (OIML) and of regional organizations. For more information consult the National Standardization Office website.
Classification of Standards
Cuba has adopted some international standards (ISO), and national standards (NC).
Online Consultation of Standards
Refer to the Cubaindustria website (Spanish only).
Certification Organizations
National Bureau of Standards

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Business Practices

General Information
Worldtravelguide, Business etiquette
Ehow, Business etiquette
Opening Hours and Days
Banks are open Monday to Friday from 9 AM to 5 PM. 
Administrative offices are open Monday to Friday from 9 AM to 12 PM and from 1 PM to 4.30 PM.
Shops are open Monday to Saturday from 9 AM to 6.30 PM and Sunday from 9 AM to 12.30 PM.

Public Holidays

Victory of Armed forces January 2
International Labor Day May 1
Independence Day May 20
Revolution Days July 25-27
Anniversary of the War of Independence in 1868 October 10
Triumph of the Revolution (Liberation Day) January 1
Holiday Compensation
If a public holiday falls on a Saturday, then the following Monday is not a working day.

Periods When Companies Usually Close

New Year's Day January 1
Liberation Day January 2
Labor Day May 1
Anniversary of the Revolution July 25
Anniversary of the Revolution (Rebellion Day) July 26
Independance Day October 10
Christmas Day December 25
New Year's Day January 1

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Last Updates: October 2014