ANNOUNCEMENT 26 Dec 2013
The Chilean Government has modified the applicable reductions on the import tariffs on raw and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 420/2013. 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=1057578
On December 26, 2013, the Chilean Ministry of Public Finance passed the Exempt Decree 420 to establish new applicable discounts on customs duties on sugar for a one-month period starting on January 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 122.60 per tonne of raw sugar; USD 209.99 per tonne in refined sugars qualified as Grade 1 or 2; and USD 157.55 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 139.80, USD 223.49 and USD 173.28 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.