It Extends The Coverage Of The Mechanism Of Estabilizacia N Of Fuel Prices Created By The Law Nº 20.765

Original Language Title: EXTIENDE LA COBERTURA DEL MECANISMO DE ESTABILIZACIÓN DE PRECIOS DE LOS COMBUSTIBLES CREADO POR LA LEY Nº 20.765

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
"(Artículo único.-Introdúcense las siguientes modificaciones en la ley Nº 20.765, que crea un nuevo Mecanismo de Estabilización de Precios de los Combustibles que Indica: 1) added in subsection first item 1st, then separate point, which happens to be point followed, the following sentence:"for the purposes of this law, automotive gasoline, the expression "fuel" or "fuel" is it understood to refer to each of the gasoline " regardless of its octane rating, which are taxed at your first sale or import with specific tax established by law Nº 18.502. "."

(2) insert in article 2 the following paragraph again, passing the current eighth subparagraph, eighth to ninth and so on: "price of parity referred to in the preceding paragraph shall be determined in the case of automotive gasoline, for those who are a representative of a relevant international market price." The determination of the existence of a representative price on a relevant international market will be made by the National Energy Commission with consulting producers and domestic importers. "."

((3) amended article 3 in the following sense: to) be inserted in its first paragraph, between the expression "concerns" and the word "is" the phrase "the first paragraph of article 1 of".

(b) added in paragraph number 1 first, then at the first point followed, the following sentence: "For automotive gasoline, rate base will be determined for those referred to in the eighth paragraph of the article 2nd.".

(c) be in subsection first add the following paragraph 8: "8. For automotive gasoline blends, the variable component of the specific tax will result from a weighted average of the variable components of gasoline which make up the mixture, using as weights the proportions of each represent in the mix. "."

(d) add in your third paragraph, then at the first point followed, the following sentence: "for the calculation of the taxable income of the tax to the added value, in the case of automotive gasoline blends, it will be under the number 8 of subsection first of this article. The result of this operation will be the amount to deduct for the purposes of the determination of the tax concerned. "."

((4) amended article 4 in the following sense: to) add, then the word "zero", the following expression: ", within a period of up to twelve weeks." This convergence will be materialized by multiplying the variable component of the specific tax by a factor equal to the result of the subtraction between twelve and the number of weeks since the date on which it has estimated that you occurred the overcoming of the $500 million above, all divided by twelve. "."

(b) replaced the expression "paced such that in twelve weeks does not collect one additional difference greater than the equivalent in pesos US $100 million, on the basis of the exchange rate prevailing at that date.", by the following: "However, if in that period an estimated one difference additional more than the equivalent in pesos to US $100 million on the basis of the exchange rate prevailing at that date, the mechanism will end its operation week which may have accumulated that sum. "."

(c) replace the term "Said estimation" by "The estimate that originate the convergence".