IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
InflowANNOUNCED AS TEMPORARY
YesNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoOn April 30, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 123 to establish new applicable discounts on customs duties on sugar for a one-month period starting on May 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 125.95 per tonne of raw sugar; USD 208.54 per tonne in refined sugars qualified as Grade 1 or 2; and USD 158.99 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 132.21, USD 224.11 and USD 168.97 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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