If you want to change US dollars in Cuba, you will now
have to pay a 10% tax on exchange. The move will
affect Cuban citizens who receive money from relatives
overseas as well as foreign visitors. The Cuban
government said the move was a response to the toughening
of the US embargo on Cuba wanted by the Bush
administration. Cubans in the US can now only visit
the island once every three years and can only send money
to their immediate relatives. Cuba made US dollars
legal tender a decade ago after the collapse of the Soviet
Union forced it to accept foreign capital and legalise
some forms of private enterprise. Expect a foreign
exchange black market to appear.
10% tax on US $ in Cuba
Tags: December 2004

