AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 8 December 2009, the government of Peru viaSupreme Decree No. 288-2009-EF announced a reduced drawback benefit rate from 8% to 5%. However, the current rate of 8 % is extended until 30 June 2010 before the phase out begins. It was initially set to expire on 31 December 2010 (see related measure).
The reduction will be excecuted via the following schedule:
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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