Cuba revises strategy for promoting automobiles

Havana, Dec 30 (RHC) The revised strategy for enhancing vehicle sales in Cuba will be implemented on Wednesday, following a thorough discussion with government representatives, as announced today by the Minister of Transport, Eduardo Rodríguez.

On his Facebook page, Rodríguez stated that it is a set of legal regulations that legalize the changes implemented in the updated policy and aim to enhance citizens' access to new transportation options.

Cuba is also aiming to raise funds that will be used to support and enhance public transportation and the infrastructure of the sector, including charging stations powered by renewable energy sources. This requires the use of convertible currencies.

He explained that the prices for the sale of vehicles in foreign currency will be the same for individuals and legal entities, and will be lower than the current rates.

Similarly, the transfer of ownership between individuals and entities is permitted, with the exception of state and diplomatic entities, which are subject to separate and distinct regulations.

He further stated that cars available on the market, including those that have been well-maintained after being used in rentals, will be allocated to meet the needs of the state and society, in accordance with the economic plan.

Moreover, vehicles sold in the domestic market will fulfill insurance replacement obligations, provide taxi services, and offer incentives to individuals from various industries.

In accordance with the established regulations, taxes will be imposed on marketing activities, which will range from 35% of the total sales value in foreign currency for high-end vehicles to the exemption of the tax for electric vehicles assembled in Cuba.

An individual or corporation can acquire up to six vehicles within a five-year period, with the exception of electric vehicles, for which there are no restrictions. The standard does not impose any limitations on the number of electric vehicles that can be acquired.

The island also permitted the importation of mopeds and motorcycles with internal combustion engines up to 250 cc or low-displacement hybrid, with or without a sidecar, through the methods of unaccompanied loading, with the passenger, or by shipment.

The policy permits the importation, for a single occasion, to individuals who are engaged in official duties abroad for a minimum duration of two years, including diplomats, associates, businesspeople, and crew members of ships and aircraft.  (Source: Prensa Latina)