On 20 April 2012, Uruguay's Ministry of Economy and Finance adopted Decree No. 126/012 introducing import tariff rebates on completely knocked-down (CKD) parts and accessories for the construction of motor vehicles. According to this regulations, CKD parts imported for use during the first year of production of a new car model never produced before receive a rebate on import tariffs of 85 per cent. The rebate amounts to 70 per cent for the second year of production and 55 per cent for the third.