AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 18 November 2014, the government of Peru via Supreme Decree No. 314-2014-EF reduced the drawback benefit rate from currently 5%, to 4% and 3% for the years 2015 and 2016, respectively.
The duty drawback represents a percentage of the FOB value of the exported goods. It is used by the government to compensate Peruvian exporters for the customs duties paid on the imported supplies and raw materials used in the manufacture of the exported good. The drawback is capped at USD 20,000,000.
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