Tax Evaders Held Liable for 820 Million Pesos in Cuba’s First Four Months of 2024

Despite a positive trend in tax collection figures for the first four months of 2024, the National Tax Administration Office (ONAT) has identified a significant amount of unpaid taxes owed by individuals and entities. According to Belkis Pino Hernández, first deputy chief of ONAT, the total debt amounts to nearly 820 million pesos.

Outdated or Doctored Financial Records

The main violations detected by ONAT include:

Outdated or doctored books, records, and other financial documents established by Cuban Financial Reporting Standards
Cancellations of accounts receivable without documentary backing
Undeclared labor contracts

These irregularities have resulted in 4,744 taxpayers across the country yet to submit their income tax return forms or having made inaccurate sworn statements. ONAT is currently auditing these individuals.

Consequences for Non-Compliance

Depending on the findings of the audit, these individuals may be:

Charged with tax evasion
Fined
Have their assets impounded or license withdrawn
Prevented from traveling abroad (as stipulated by Article 94 of the current tax legislation)

The government is urging all individuals and entities to strictly adhere to tax laws and regulations. Tax evasion will not be tolerated, and strict action will be taken against anyone found guilty, including fines and asset confiscation.

Advice for Taxpayers

To avoid any legal consequences, taxpayers are advised to:

Carefully review their financial records
Ensure compliance with all relevant tax regulations

Call to Action

Taxpayers who have yet to submit their income tax return forms or made inaccurate sworn statements are urged to do so as soon as possible to avoid penalties or fines. ONAT will also be conducting random audits of taxpayers to ensure compliance with tax laws and regulations.

In conclusion, the consequences for non-compliance with tax laws and regulations will be severe. Taxpayers are advised to take immediate action to rectify any errors or omissions in their financial records and ensure full compliance with all relevant tax regulations.