At the end of July, Cuban Minister of Transport Eduardo Rodríguez Dávila revealed the Cuban government’s new measures regarding the sale and import of cars and other means of transport.
During the announcementThe minister explained that these measures are part of a comprehensive effort to update the country’s car sales policy.
He also said that the main objective is to facilitate wider access to new means of transport for the population. It is also intended to generate funds in foreign currency to support the development of public transport and infrastructure, including charging stations with renewable energy.
Among the main measures that will come into effect in Cuba for the sale and importation of cars are:
1- Vehicle prices: Prices for cars sold in freely convertible currency will be uniform, regardless of whether the buyer is a natural person or a legal entity. For natural persons, these prices will be lower than the current ones.
2- Transfer of ownership: The transfer of vehicle ownership between individuals and legal entities will be permitted, with the exception of diplomatic vehicles. This transfer must be made through banks.
3- Sale in Cuban pesos: Vehicles that are not sold in freely convertible currency and that are available in the Cuban market will be sold in national currency. They will have priority certain state and social sectors.
4- Adjusted taxes: A special tax of 35% will be established on the sales value in convertible currency for high-end vehicles, while electric vehicles assembled in Cuba will be exempt from this tax.
5- Purchase limit: A maximum purchase limit of six vehicles per natural or legal person will be imposed in a five-year period.
6- Authorized import: The importation of low-displacement mopeds and motorcycles, electric tricycles with a capacity of more than two seats, and the one-time importation of vehicles for persons on official missions abroad will be permitted for a minimum of three years.
7-Sale for replacement: The sale in Cuban pesos of vehicles that have been removed from the tourist market but can be recovered by interested buyers will be authorized.
Cuba’s transport minister also indicated that although the new legal regulations are not yet in force, they are expected to be published before the end of October. Authorities are working to speed up their implementation.
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