ANNOUNCEMENT 27 Oct 2015

The Government of Chile updated the applicable discounts on the import tariffs on raw and refined sugar.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 325/2015. 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=1083134

Inception date: 01 Nov 2015 | Removal date: 30 Nov 2015

Import tariff

On October 27, 2015, the Chilean Ministry of Public Finance passed the Exempt Decree 325 to establish new applicable discounts on customs duties on sugar for a one-month period starting on November 1, 2015. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 20.67 per tonne of raw sugar; USD 117.24 per tonne in refined sugars qualified as Grade 1 or 2; and USD 59.30 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 87.58 and USD 23.67 per tonne for refined sugars qualified as Grade 1 or 2 and as Grade 3, 4 and other substandard while there was no applicable discount on raw sugar.

The objective of this decree is to establish a relative margin for internal prices to fluctuate in comparison to the international market.

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AFFECTED PRODUCTS