IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
InflowANNOUNCED AS TEMPORARY
YesNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoOn October 27, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 293 to establish applicable discounts on customs duties on sugar for a one-month period starting on November 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 88.22 per tonne of raw sugar; USD 172.57 per tonne in refined sugars qualified as Grade 1 or 2; and USD 121.93 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. Previously there were no discounts on the import tariffs for these goods.
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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