IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
InflowANNOUNCED AS TEMPORARY
YesNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoOn December 26, 2013, the Chilean Ministry of Public Finance passed the Exempt Decree 420 to establish new applicable discounts on customs duties on sugar for a one-month period starting on January 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 122.60 per tonne of raw sugar; USD 209.99 per tonne in refined sugars qualified as Grade 1 or 2; and USD 157.55 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 139.80, USD 223.49 and USD 173.28 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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