IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
InflowANNOUNCED AS TEMPORARY
YesNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoOn February 24, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 67 to establish new applicable discounts on customs duties on sugar for a one-month period starting on March 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 85.84 per tonne of raw sugar; USD 174.14 per tonne in refined sugars qualified as Grade 1 or 2; and USD 121.16 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 99.68, USD 188.85 and USD 135.35 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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