ANNOUNCEMENT 28 Nov 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 1041/2012. 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=1046113
On November 28, 2012, the Chilean Ministry of Public Finance passed the Exempt Decree 1041 to establish new applicable discounts on customs duties on sugar for a one-month period starting on December 1, 2012. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 144.15 per tonne of raw sugar; USD 261.60 per tonne in refined sugars qualified as Grade 1 or 2; and USD 191.13 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 163.61, USD 298.92 and USD 217.73 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.