Do you know what recent modifications the Cuban customs has implemented on the import tariffs for beers and malts to the island? Additionally, are you interested in knowing when these new rates will come into effect? In this article, we will provide you with all this information in detail.
Law No. 113/2012 of the Cuban Tax System establishes the customs tax rates, which are regulated in Joint Resolution 1 of December 15, 2021, which began to be enforced from January 1, 2022. The Extraordinary Official Gazette No. 25, of the Republic of Cuba, has published Joint Resolution 2/2024, which refers to regulations regarding the customs tariff of the Cuban people.
Joint Resolution 2/2024 outlines in its sections the approval by the Ministers of Foreign Trade, Foreign Investment, and Finance and Prices to increase the prices for the export of malt beers at the customs of the Caribbean country.
Before the modifications published in the Official Gazette of the Republic of Cuba, the marketing prices were 10% in total and 5% for MFN (Most Favored Nation). Now, those importing beer to Cuba must comply with the new guidelines established since April 24 of this year; the new rate will be equivalent to 20%, and those acting from the so-called Most Favored Nation will have to dispense 10% in relation to the total price of the merchandise.
The Ministry of Finance and Prices took this measure with the trade of malt beers as an action to boost the country’s economy, as stated in official sources. This new regulation, along with the 50% reduction in customs tariffs for the export of raw materials, is being developed to encourage the island’s exports and trade. It is expected to achieve improvements in agricultural productions and other food sectors of the country.
With the provisions published in the Official Gazette, the Cuban government makes clear the need for economic improvements that respond to the protection and production benefits that meet the country’s needs.
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