14ymedio, Madrid, 26 January 2024 — The Cuban Government announced on Thursday the increase in tariffs for the import of cigars, cigarettes, rum and other alcoholic beverages. For all these products, the general rate becomes 30%, while for countries considered a “favored nation” it will be 15%. In both cases, the percentage is tripled, since before it was 10% and 5%.
These increases were announced by the ministers of Economy and Planning, Alejandro Gil, and of Finance and Prices, Vladimir Regueiro Ale, in a Round Table program at the end of December.
“We are increasing tariffs for these products that are similar to national production, which we must continue to stimulate and protect, favoring exports and the greater presence of our products in the national market,” Regueiro explained.
Although finished products in general were mentioned, in the Official Gazette published yesterday, tobacco and alcohol are the only ones included
Although finished products in general were mentioned, in the Official Gazette published yesterday, tobacco and alcohol are the only ones included. We will have to wait to see if the measure extends to other products and if there will be shortages because of the increased tariffs.
The Gazette also includes another resolution about tariffs on the import of raw materials, inputs and intermediate goods. They are reduced by half “for production processes, with a special focus on food and agricultural production,” the text reads.
The objective of these measures, as announced by the authorities on television, is to stimulate domestic manufacturing. “At the end of November, imports made by non-state economic actors exceeded $1 billion. It is an importan