ANNOUNCED AS TEMPORARYYes
On December 18, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 375 to establish new applicable discounts on customs duties on sugar for the rest of that month. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 102.23 per tonne of raw sugar; USD 174.92 per tonne in refined sugars qualified as Grade 1 or 2; and USD 131.30 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. During the first half of the month, there were no applicable discounts.
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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