Comptabilitat a Cuba

Accounting Rules

Tax Year

The fiscal year begins on January 1st and ends on December 31 of the same year or any 12-months period approved by the tax authorities.

Accounting Standards

In January 2006, the Cuban financial information standards (Normas Cubanas de Informaciones Financieras, NCIF) were developed, the result is a mixture of international standards and standards specific to Cuba.

Accounting Regulation Bodies

Ministry of Finance and Prices

Accounting Reports

The accounting structure includes:
- The balance sheet which must be published on the first day following the end of the registration period. It should contain the assets (long-term capital, fixed assets, current assets), liabilities (Sources of owned capital, Long-term bonds, Credits and other bonds);
- The profit and loss account : Financial result, Profit distribution, Expenses on the budget, Expenses on extra-budget expenditures and other funds, Movement of financial resources for investments in capital or other financial investments.

Publication Requirements

The Cuban accounting system imposes on public and\or private companies the duty to release, annually, a certain amount of financial and accounting information. This duty is with regard to:
- A balance sheet
- A profit and loss account
- An incoming and outgoing financial flow summary
- A report on capital evolution.

Professional Accountancy Bodies

ANEC , National association of Cuban economists and chartered accountants (Spanish only).

Certification and Auditing

The financial statements of any entity subject to taxation in Cuba must be audited annually by an auditor that is duly authorized by the Ministry of Finance.

Accounting News