ANNOUNCEMENT 27 Oct 2015
The Government of Chile updated the applicable discounts on the import tariffs on raw and refined sugar.
NUMBER OF INTERVENTIONS
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
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.