ANNOUNCEMENT 27 Feb 2012
The Chilean Government has modified the applicable reductions on the import tariffs of raw sugar and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 316/2012. 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=1037534
On February 27, 2012, the Chilean Ministry of Public Finance passed the Exempt Decree 316 to establish new applicable discounts on customs duties on sugar for a one-month period starting on March 1, 2012. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 256.77 per tonne of raw sugar; USD 367.04 per tonne in refined sugars qualified as Grade 1 or 2; and USD 300.88 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 237.37, USD 335.16 and USD 276.49 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.