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ANNOUNCEMENT 26 Nov 2011
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 961/2011. 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=1033123
On November 26, 2011, the Chilean Ministry of Public Finance passed the Exempt Decree 961 to establish new applicable discounts on customs duties on sugar for a one-month period starting on December 1, 2011. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 277.49 per tonne of raw sugar; USD 401.31 per tonne in refined sugars qualified as Grade 1 or 2; and USD 327.02 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 277.48, USD 370.23 and USD 314.58 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.