Resolution 225 of the Ministry of Finance and Prices in Official Gazette No. 61 (ordinary)

WHEREAS: Law 113 “Of the Tax System”, of July 23, 2012, in its Article 284 establishes that the Customs Tax is collected through customs tariffs, and the Second Final Provision, subsection a), empowers the Minister of Finance and Prices, when economic and social circumstances in his judgment so advise, to grant exemptions, total, partial, permanent or temporary bonuses; as well as to forgive administratively determined tax debts, as appropriate.

WHEREAS: Decree 24 “Powers for the Approval of Prices and Rates”, dated November 25, 2020, establishes the nomenclature of products and services whose prices and rates, in Cuban pesos, are set by the Council of Ministers and empowers the Minister of Finance and Prices or to whom he may delegate, to approve the prices and rates of products and services that are not listed in its Sole Annex.

WHEREAS: Agreement 8301, of the Council of Ministers, dated January 26, 2018, in section One, numerals 11 and 12, establishes among the specific functions of this Ministry, that of directing and controlling the execution of the policy in matters of formation, fixing and modification of prices and tariffs; approving those within its competence, and controlling their application.

WHEREAS: Taking into account the current conditions of the economy, it is necessary to contain the price levels of certain products of high impact on the population, through the exoneration of the payment of the Customs Tax for their imports, and the centralized establishment of maximum retail prices, in which the costs and expenses of acquisition and commercialization, the profit in the commercial activity and the Sales Tax are recognized.

THEREFORE: In the exercise of the power vested in me by Article 145,

subsection d) of the Constitution of the Republic of Cuba,

RESOLVED:

FIRST: To exonerate from the payment of the Customs Tax the imports of the products listed in the Sole Annex, which is an integral part of this Resolution.

SECOND: To establish the maximum retail prices to be applied in the commercialization of the products listed in the aforementioned Single Annex.

In the formation of the retail prices of these products, the economic actors recognize up to a thirty percent (30%) profit margin on costs and expenses, provided that they do not exceed the prices defined in the referred Single Annex.

FINAL PROVISIONS

FIRST: The Ministry of Finance and Prices, in coordination with the Ministries of Foreign Trade and Foreign Investment and Domestic Trade, is in charge of periodically observing the behavior of the import prices of the goods referred to in this Resolution, in order to determine the corresponding updates in their maximum retail prices; as well as the proposal for the inclusion of other goods.

SECOND: The present Resolution enters into force as of its publication in the Official Gazette of the Republic of Mexico.

Official Gazette of the Republic of Cuba.