ANNOUNCEMENT 27 Jan 2015
The Government of Chile announced new discounts on the import tariffs on raw and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 8/2015. 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=1074235
On January 27, 2015, the Chilean Ministry of Public Finance passed the Exempt Decree 8 to establish new applicable discounts on customs duties on sugar for a one-month period starting on February 1, 2015. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 70.50 per tonne of raw sugar; USD 138.34 per tonne in refined sugars qualified as Grade 1 or 2; and USD 97.64 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 88.62, USD 155.82 and USD 115.50 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.