Cuba implements major economic reforms and business inspections

Cuba is implementing significant economic shifts characterized by both sweeping legislative reforms and intensive regulatory crackdowns. The National Assembly has passed over 200 measures aimed at relaxing government control over economic activity. These reforms include allowing market forces to determine prices, eliminating the state monopoly on foreign trade, and opening the finance sector to private banks. Additionally, the changes facilitate more private sector involvement, allow farmers to import fuel and export products independently, and extend land use rights for foreign investment to 99 years.

Simultaneously, authorities are conducting rigorous inspections of private businesses to enforce compliance. In the Centro Habana district, a single day of inspections resulted in the closure of 15 businesses and 363 fines. Common violations identified by officials include the refusal to accept electronic transfers, speculative pricing, and the use of personal QR codes for transactions, which authorities have labeled as “tax evasion.” These enforcement actions are part of a broader campaign across various municipalities to monitor economic entities and ensure adherence to fiscal regulations.