ANNOUNCED AS TEMPORARYYes
On December 29, 2012, the Chilean Ministry of Public Finance passed the Exempt Decree 1171 to establish new applicable discounts on customs duties on sugar for a one-month period starting on January 1, 2013. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 157.35 per tonne of raw sugar and USD 195.21 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 144.15 and USD 191.13 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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