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Friday, September 30, 2011

Hasta la Victoria, Siempre! Cuba to Open Market to New Cars for the First Time Since 1959!


In what can be considered a historical moment, the Cuban government legalized today the purchase and sale of new automobiles for all its citizens, ending the prohibition that had been enforced since the 1959 revolution.

It was a move that was announced last April by President Raul Castro, but would not become law until it was published in the Official Gazette.

The new ruling, which is effective from Saturday, stipulates that both the buyer and the sellers will each pay a 4% tax for new cars. Buyers will also have to go to state-owned dealerships and prove that the money they intend to spend were obtained through their work and not sent by relatives who live abroad.

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