Cuba announces new policy for vehicle acquisition in the country

HAVANA, Cuba, Jul 30 (ACN) A group of measures aimed at updating the commercialization of vehicles in the country were presented in Havana by Eduardo Rodriguez Davila, Minister of Transport.

In an interview with the national press, the Minister of Transport explained that these modifications, published on his personal profile on Facebook, are in response to the statements made by Prime Minister Manuel Marrero Cruz during the most recent Ordinary Session of the National Assembly of People's Power regarding the Government's will to favor the mobility of people and cargo, modify the energy matrix and the collection of funds in convertible foreign currency for investments in different sectors of the economy.

Rodriguez Davila clarified that the announced measures constitute an advance pending an exercise of readjustment and entry into force of legal provisions that will come to enrich the regulatory framework that regulates the issue expected to be ready before November 1 of this year.

Among the novelties, he highlighted that the import and commercialization of vehicles in foreign convertible currency is maintained with an adjustment in the sale prices so that they will not vary if the buyer is a legal or natural person, the authorization in the transfer of ownership between natural persons and the commercialization in national currency (CUP) of vehicles in good technical condition that are available in the national market.

In this way, he said, the commercialization by replacement in CUP of whole vehicles that are technically low in the tourism rent and can be recovered by their buyers is authorized and the direct import of mopeds and electric motorcycles is maintained for natural persons and the authorization is expanded to the import of mopeds and motorcycles of internal combustion engine, both for passengers and for shipments.

He also pointed out the regulation and generalization of the special taxes on the sale of foreign currency, from 35 % of the total value of the sale of high-end vehicles to the exemption of such taxes on electric vehicles assembled in Cuba, and the authorization for the one-time import of vehicles to people who are on official missions abroad, according to the conditions established with their related organizations.

He specified that the amount in foreign currency corresponding to the taxes and tariffs collected as a result of this policy will be part of a fund to be managed by the Ministry of Transport, destined to the recovery and development of public transport and its associated infrastructure.

This will facilitate the access of people with the capacity to do so to different alternatives to satisfy their mobility needs with their own resources, while public transportation will benefit from the investment of the funds generated, the minister pointed out.