Click on each topic for more information




Corporate tax

Tax rate for resident companies

The SEM (Society of mixed economy) and the parties of a contract of international economic association are subjected to a special regime of levy, The tax is perceived at the rate of 30% of the taxable net profits, Concerning companies with totally foreign capital, the corporate tax rate is 35%, The executive committee can exempt the taxpayers from all or any of the net profit tax reinvested in the country, Similar exemptions can be obtained in case of implanting in a free-trade zone, A tax on salaries of 11% is added to the corporate tax and the Social Security contribution at the rate of 14%,

System governing groups of companies and dividends paid by subsidiaries to their parent companies No payment at the source on dividends in Cuba,
Tax rate on branches The corporate tax is levied on branches in the same way as any other companies in Cuba,

Income tax

Fiscal year The fiscal year begins on January 1st and ends on December 31st of the same year.
Income tax rate The rate of the progressive individual income tax varies from 10% (income bracket inferior to 6 000 USD) to 50% (income bracket superior to 60 000 USD),

VAT rates

Standard rates There is no VAT in Cuba but a tax on sales with a rate varying according to the nature of the product.

Other important taxes

Name of tax
Rights on the transfers of property  
1% to 4%  
Land taxes  
Variable rate according to the nature of the private properties  



The new accounting and audit system of January 01, 1977 came into effect in all private or public companies of Cuba. This plan includes 77 main accounts and 48 sub-accounts, inspired by the Russian accounting model.
The accounting practice in Cuba continues to evolve according to the various influences of the European communist countries or even of the United States.

General accounting principles
The Balance sheet
It must be published the first day following the end of the registration period.
- Asset
1- long-term capital
2- fixed assets
2- current assets
- Liabilities
1- sources of possessed capital
2- long-term bonds
3- credits and other bonds
The profit and loss account
1- financial result
2- distribution of profits
3- expenses on the budget
4- Costs on expenses
5- Movement of financial resources for investments in capital or other financial investments.

Obligations and publications
The Cuban accounting system imposes on public and\or private companies to publish annually a certain number of financial and accounting information :
- A balance sheet
- A profit and loss account
- A summary of the entering and outgoings financial flows
- A report on the capital evolution.

Professionals and representative organizations
The "Committee's National Accounting System Administration".

Useful links

Last modified in 2006 - ongoing update
Export Entreprises©, All rights reserved