AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 8 January 2009, the government of Peru viaSupreme Decree 018-2009-EF announced a temporarily increaseddrawback benefit rate from 5% to 8% until 1 January 2010. This increase was subsequently extended until 30 June 2010 (see related measure).
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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