News

Cuba: It’s a Long and Winding Road for Cuba’s Private Sector

Legal regulations that came into effect on December 7, 2018, have put the brakes on Cuba’s private sector instead of contributing to its progress, warns a study by University of Havana’s Entrepreneurship and Innovation Network, made up of professors from different departments and centers within this institution, as well as some external organizations.

The network analyzed these regulations from a legal viewpoint, in the light of different arguments that lay the foundations for accepting this kind of private enterprise and the Conceptualization of Cuba’s Socio-Economic model and the Cuban Constitution, which legalize private property.

Its study concludes that regulations approved by the Council of Ministers were written in reverse: excessive documents (29) and processes that represent obstacles in the application process for licenses, cracking down on violations, excessive inspections, the definition of twenty-two oversight agencies for the private sector (with specific departments to deal with them), the new requirement of a bank account with two months worth of taxes as credit in this account, needing to pay payroll taxes from the very first employee, etc.

More

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s