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ANNOUNCEMENT 28 Oct 2016
The Chilean Government has modified the applicable reductions on the import tariffs of raw sugar and refined sugar.
NUMBER OF INTERVENTIONS
1
SOURCE
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 365/2016. Aplica rebajas de derechos de aduana para la importación de azúcar cruda, azúcar refinada grados 1 y 2, y azúcar refinada grados 3 y 4, y subestándares.
http://www.leychile.cl/Navegar?idNorma=1096018
On October 28, 2016, the Chilean Ministry of Public Finance passed the Exempt Decree 365 to establish new applicable discounts on customs duties on sugar for a one-month period starting on November 1, 2016. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 257.72 per tonne of raw sugar; USD 356.29 per tonne in refined sugars qualified as Grade 1 or 2; and USD 297.14 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 198.45, USD 297.50 and USD 238.07 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.