IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
InflowANNOUNCED AS TEMPORARY
YesNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoOn March 29, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 94 to establish new applicable discounts on customs duties on sugar for a one-month period starting on April 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 132.21 per tonne of raw sugar; USD 224.11 per tonne in refined sugars qualified as Grade 1 or 2; and USD 168.97 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 85.84, USD 174.14 and USD 121.16 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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