Cuba: new 10% tax on retail food

Cuba on Saturday announced a new 10 percent tax on retail food sales, as the country endures economic woes marked by rampant inflation.

The levy taking effect Monday will target self-employed people and small- and medium-sized companies in the retail food sector, said the decree published in the official government gazette. These sales were only allowed starting in August of last year as part of reforms in the communist run island.

…

Monetary reforms applied last year caused prices of goods and services to shoot up in Cuba, mainly those of food. Inflation last year came in at 70 percent.

People have to wait in long lines for scarce supplies of food and medicine.

…

https://news.yahoo.com/cuba-slaps-tax-food-sales-233159455.h…

1 Like

Monetary reforms applied last year caused prices of goods and services to shoot up in Cuba, mainly those of food. Inflation last year came in at 70 percent.

Subsidies are painful to remove.

DB2

1 Like

Some people believe they can run the Economy by decree. The problem is that the Economy has not received the message.

The Captain
applies to ALL central planning wishful thinking

4 Likes