Document: State Budget Law for the year 1995
Type of document: Law
Date of issue: 20/12/1994
Number of Legal Instrument: Law No 74
Broadcaster: National Assembly of People's Power
Date of entry to the repository: 18/05/2016
Source:
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RICARDO ALARCON DE QUESADA , President of the National Assembly of the People's Power of the Republic of Cuba.
I DO KNOW That the National Assembly of the People's Power of the Republic of Cuba, at its meeting on 20 December 1994, corresponding to the Fourth Regular Session of the Fourth Legislature, has approved the following:
AS REGARDS : The Council of Ministers, in compliance with the provisions of Article 98 (e) of the Constitution of the Republic, in conjunction with Article 20 of the Organic Law of the State Budget System, dated July 3, 1980, has drawn up and presented the Draft State Budget for the year 1995, to the consideration of the National Assembly of People's Power for discussion and approval, as set out in Article 75 (e) of the aforementioned constitutional text and the aforementioned Law.
AS REGARDS : In the project presented, account has been taken of the need to concentrate the resources available on a set of top priority programmes and to make every effort to ensure the satisfaction of the basic needs of the population.
AS REGARDS : The draft budget reflects the effect of the financial economic measures adopted during 1994, the results of which create favourable conditions for the reduction of the budget deficit in the coming year.
FOR TANK : The National Assembly of People's Power adopts the following:
ACT NO. 74
LAW OF THE STATE BUDGET FOR 1995
ARTICLE 1. The State Budget for the year 1995, which is set out in the following articles, will run from January 1 to 31 December 1995.
ARTICLE 2. The State Budget for the year 1995 is composed of the following revenue and expenditure:
Revenue Millions of pesos
Coming from contributions and other contributions from the state sector of the economy11 066.9
From taxes and other contributions from the non-state sector of the economy 220.6
From the collection of taxes, fees and contributions, directly from the population 395.0
Total Revenue 11 682.5
EXPENDITURE
Financing of the productive sphere 4 476.2
Financing of housing and communal services 41.6
Financing of education and public health 2541.7
Financing of other socio-cultural and scientific activities 2 744.7
Financing of the administrative expenses of the organs of the People's Power, the courts, the Office of the Prosecutor General and the other organs and agencies of the State 388.5
Financing of the defence and internal order 799.8
Financing of other activities 680.0
Book 632.0
Total Expenditure 12 682.5
Surplus or (Deficit) (1 000.0)
ARTICLE 3. The organs or agencies of the State must adopt all measures that contribute to the reduction of the budget deficit. In this sense, they will have to increase economic efficiency, with the reduction of the subsidies for losses of companies as a fundamental premise, establishing the corresponding measures to reduce or eliminate their incosteability in the shortest possible time.
ARTICLE 4. The loss allowance of the undertakings shall be granted through the organs and agencies of the State to which they are subordinate, on the basis of the programme of measures taken to reduce or eliminate their incosteability in the shortest possible time, as well as the compliance with the rules governing the discipline of charges and payments, with the aim of making significant progress in the efficiency of the activities under its responsibility.
ARTICLE 5. It is established as a tax rate for the contribution to Social Security referred to in Articles 53 and 54 of Law No. 73, of the Tax System, dated August 4, 1994, 14 percent (14 percent).
The organs and agencies of the State, enterprises, associations of undertakings, budgeted units and other State entities; the basic units of cooperative production, political, social and mass organizations, as well as the subordinate enterprises such organisations shall only enter the budget of 12% (12%) of the tax rate referred to in the preceding paragraph.
The remaining two per cent (2 per cent) of the said type will be made available to the above mentioned entities to contribute to this concept, which will be used for the payment of the short-term social security benefits of the workers who are linked to them, as regulated by the Ministry of Finance and Prices.
The remaining entities not mentioned above will continue to contribute to the tax rate established for each case.
In the case of the special contribution of workers benefiting from social security, the tax base and the tax rates for each contribution shall be laid down by the special legislation on that matter, as laid down in Article 1 (1) of the Article 56 of Law No. 73, of the Tax System.
FINAL PROVISIONS
FIRST: It is delegated to the Ministry of Finance and Prices to make corresponding adjustments during the implementation of the State Budget as a result of the economic measures decided to introduce, provided that this does not deteriorate the balance of revenue and expenditure of the State Budget.
SECOND: The Ministry of Finance and Prices will distribute and allocate the revenue and expenditure of the provincial budgets, as well as the allocations to receive from the Central Budget.
THIRD: The Ministry of Finance and Prices is authorized to distribute and allocate the approved budget to each organ and agency of the State, as well as to organizations and associations linked to the Central Budget, for the income to be provided to the the budget and the expenditure authorised to cover.
FOURTH: It shall be repealed as many laws and regulations shall be contrary to the provisions of this Law, which shall apply from 1 January 1995.
DADA In the session hall of the National Assembly of People's Power, Palace of the Conventions, in the City of Havana, at the twenty days of the month of December of a thousand nine hundred and ninety-four. "Year 36 of the Revolution."
