Tax incentives for export activity

Image
aduana cuba 5
Author
Cubadebate

Vladimir Regueiro Ale, First Deputy Minister of Finance and Prices, said that this body has been part of this working group since the beginning, in terms of the rules related to the payment of tariffs.

Regarding the measure established by Customs Decree Law 162, referring to the special regimes for temporary importation for the improvement of assets or for the refund of customs duties or taxes, he commented that these regimes are special because “they stimulate the export and the international insertion that our state-sector companies and also the new actors in the economy can have.”

Precisely –he continued–, that is the main update with this rule, in compliance with the mandate that this decree law has for the Ministry of Finance and Prices, to regulate these two regimes.

He recalled that Resolution 85 was issued in 2013 and is in force. It is the one that is being updated.

He explained that the main change is that these regimes, which are export incentives, can also apply the new forms of non-state management to which they were recently authorized, the regulatory framework was expanded so that they can carry out export and import operations. .

He added that the inward processing regime "is a suspension of the payment of customs duties when these goods are imported with the aim of having a transformation process for our industry, for a productive process that enriches, increases the value, and are intended for export for a period that is declared with the requirements that must be certified before customs to opt for it.

"This can currently be done by state-owned companies and so can the new forms of management with the corresponding authorization," he reiterated.
“Another of the changes is related to the use of the computerization process that customs itself has undergone: the registration of the invoice, the operations, the same customs records, which are information that would no longer be requested in the same volume from this economic actor, since it is available to the authority that is going to make the specific control of the origin or not of this regime.

“By implementing these regimes and updating this rule, we are also contributing to the implementation of a Guideline, 42, which is precisely to stimulate exports, the insertion of our companies in the international market. And all this also favors the assimilation of technology.

“We are also shortening the terms in order to facilitate all these processes. We are aware that updating and modifying these procedures are not enough and that we must deploy, together with Customs and our own ministry, a training, awareness-raising and learning process for all economic actors," said the First Deputy Minister of Finance and Prices.

“They are mechanisms that have to be exploited more and make a strategy to stimulate exports in the country. This joins other fiscal stimuli that have been approved, following the line of prioritizing those that have to do with export activity”, he concluded.

Leave your comment

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.