ANNOUNCED AS TEMPORARYYes
On August 27, 2016, the Chilean Ministry of Public Finance passed the Exempt Decree 281 to establish new applicable discounts on customs duties on sugar for a one-month period starting on September 1, 2016. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 182.09 per tonne of raw sugar; USD 292.16 per tonne in refined sugars qualified as Grade 1 or 2; and USD 226.12 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 188.31, USD 303.08 and USD 234.22 per tonne respectively.
The objective of this decree is to establish a relative margin for internal prices to fluctuate in comparison to the international market.
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