ANNOUNCEMENT 29 Dec 2015
The Chilean Government updated the applicable discounts on the import tariffs set on raw and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 508/2015. 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=1085829
On December 29, 2015, the Chilean Ministry of Public Finance passed the Exempt Decree 508 to establish new applicable discounts on customs duties on sugar for a one-month period starting on January 1, 2016. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 76.39 per tonne of raw sugar; USD 155.43 per tonne in refined sugars qualified as Grade 1 or 2; and USD 108.01 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 66.31, USD 139.90 and USD 87.73 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.