Accounting in Cuba: standards, taxes and GoSoft
Accounting guide for Cuba: National Tax Administration Office (ONAT), Impuesto sobre las ventas 10 %, accounting framework, books, e-invoicing, tax returns and how to set up GoSoft.
Key facts
| Item | Detail |
|---|---|
| Tax authority | National Tax Administration Office (ONAT) |
| Currency | CUP · Cuban peso |
| Tax ID | NIT |
| Consumption tax | Impuesto sobre las ventas · 10 % |
| Fiscal year | Calendar year (January 1 to December 31). |
| E-invoicing | Invoices meeting ONAT requirements; there is no mandatory national e-invoicing system. |
Accounting framework
Cuban Financial Reporting Standards (NCIF), issued by the Ministry of Finance and Prices.
Chart of accounts
Chart of accounts approved by the Ministry of Finance and Prices.
Financial statements
In Cuba the four statements are presented with these names (GoSoft uses them in its reports and PDFs):
- Statement of financial position
- Income statement
- Statement of changes in equity
- Statement of cash flows
Mandatory books and records
Journal, General Ledger and Inventory and Balance book (or their electronic equivalents), with the supporting documents for every entry.
Periodic tax returns
Monthly sales and services tax returns, and annual profit tax return.
What you need to know
- Sales tax and services tax coexist, each with its own rate.
Taxes and withholdings in GoSoft
These are the reference taxes and withholdings GoSoft loads for Cuba. You adjust them in Taxes and withholdings (rate, minimum base and ledger account).
| Code | Name | Type | Applies to | Rate |
|---|---|---|---|---|
IV10 | Sales tax 10% | VAT | sales and purchases | 10 % |
IS10 | Services tax 10% | VAT | sales and purchases | 10 % |
How to set up GoSoft for Cuba
In My company, choose the country Cuba and the currency CUP.
When you log in again, GoSoft shows Updating the accounting setup for Cuba: it codes the chart of accounts, loads the country's taxes and checks the settings. It happens only once.
In Chart of accounts → Options, review the coding and download the chart as a PDF for your accountant to approve.
In Financial reports → Taxes and withholdings, confirm the rates and choose the ledger account for each tax.
Record activity (manually or from the modules) and use Tax returns to prepare each period's drafts.
Rates and deadlines change. Before filing, confirm what is current at National Tax Administration Office (ONAT) and with your accountant.