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The new law requires that every one real estate transactions be made by means of Cuban financial institution accounts in order that they are often higher regulated, and it units a tax rate of 8 percent of the assessed value - split equally by buyer and seller. At an intersection in central Havana that for decades has served as the town's underground actual property bazaar, individuals stated the tax price seemed cheap within the summary, but it'll depend enormously on how authorities end up valuing the properties.
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