Cuba broadens economic reforms, plans new measures

By artappraiser on Thu, 07/26/2012 - 8:52pm |

By Marc Frank, Reuters, July 27, 2012

* Some state companies to be granted greater autonomy

* All Cubans to pay income and property taxes

* New cooperatives to divide profits as members see fit

HAVANA, July 26 - Cuba adopted a new tax code this week and said it would loosen regulations on some state companies while turning others into cooperatives, as one of the world's last Soviet-style economies moves in a more market-friendly direction.

The plans were announced at a session of the National Assembly, which passed the country's first comprehensive tax code since the 1959 revolution on the communist-ruled island [....]

URL:

http://in.reuters.com/article/2012/07/26/cuba-reform-idINS1E86O00420120726