Cuba keeps a two-tier currency system, made to demand a hefty taxation on the every forex trading delivered into the country, whether or not by the people, remittances or providers.
The forex must be translated when you look at the CUCs. You cash appeal fees and taxes of around 20%; other currencies only ten%.
There was a network out-of unique shop (“dollars storage”) offering all sorts of items in the greater prices. Such stores take just modifiable pesos.
This program is quite unpopular which have those average Cubans who’ve zero the means to access CUCs. The government provides pledged to stop brand new CUC features produced a small start this present year.
Eighty-seven % regarding Cuban workers are utilized by county. Simply several% operate in the personal sector (individual farmers, artists) – this may involve 142,one hundred thousand mind-operating (lower than step 3% of total staff members).
At exactly the same time there is the libreta, brand new ration program. Continue reading Discover average pesos and convertible pesos (CUCs)