ANNOUNCED AS TEMPORARYYes
On August 27, 2015, the Chilean Ministry of Public Finance passed the Exempt Decree 253 to establish new applicable discounts on customs duties on refined sugar for a one-month period starting on September 1, 2015. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 96.61 per tonne in refined sugars qualified as Grade 1 or 2 and USD 29.70 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 110.53 and USD 46.67 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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