U.S. amendments to Cuban assets control regulations
OFAC also published new and updated “frequently asked questions”
OFAC also published new and updated “frequently asked questions”
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today released for publication in the Federal Register a final rule that amends the Cuban assets control regulations to “increase support for the Cuban people.”
Today’s final rule [PDF 272 KB]:
- Authorizes group people-to-people educational travel to Cuba
- Removes certain restrictions on authorized academic educational activities
- Authorizes travel to attend or organize professional meetings or conferences in Cuba
- Removes the $1,000 quarterly limit on family remittances
- Authorizes donative remittances to Cuba
The amendments also add or update several cross-references.
OFAC today also published a number of new and updated “frequently asked questions” (FAQs).
For more information, contact a professional with KPMG’s Trade & Customs services:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal E: jlibby@kpmg.com |
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.