Amends Act No. 18.480

Original Language Title: MODIFICA LEY N° 18.480

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.
"Article 1.-Introducense the following modifications in the law N ° 18.480, date of December 19, 1985, which establishes a system for the reinstatement of charges affecting cost of inputs from non-traditional minor exports: I.-replace, in the second paragraph of article 1, the phrase:"the reinstatement will be 10% or 5% ", by the following" : "The reinstatement will be 10%, 5% or 3%".
II. replace article 2 °, with the following: "article 2.-can access the reinstatement set out in article 1 all exported domestic goods, classified in the customs tariff on the date of acceptance of the issued export declaration process by the national customs service and that, to December 31, 1990, they were affected to this benefit."
Can also access this law those exported domestic goods classified in the customs tariff on the date of acceptance of the issued export declaration process by the national customs service and that, to December 31, 1990, were they found excluded of reinstatement, provided the amount exported by HS, according to their classification on the date of acceptance of process , have been, in 1990, equal to or less than the value FOB US $5,000,000, currency of the United States of North America, according to the national customs service to certify it.
Refund rates applicable to the goods defined in the preceding paragraphs, as well as sections of exports affected to such fees, shall be the following: to) ten percent for those goods that have been exported, by HS, in amounts equal to or less than $10,000,000, value FOB, in currency of the United States of North America, as certified by the national customs service during 1990.
(b) five per cent to those goods that have been exported, by HS, for amounts exceeding $10,000,000, but equal to or less than $15,000,000, FOB values, in currency of the United States of North America, as certified by the national customs service during 1990.
(c) three per cent, for those goods that have been exported, HS, for amounts exceeding $15,000,000, but equal to or less than $18,000,000, FOB values, in currency of the United States of North America, as certified by the national customs service during 1990.
Exports amounts indicated in letters to), b), c) will reset annually according to the price index average relevant to foreign trade in Chile, as certified by the Central Bank of Chile, taking as a basis the year 1990, and will serve to set the annual exclusion list which has the article 3. "."
III. replace article 3 ° by the following: ' article 3 °.-annually, before March 31, by a decree issued by the Ministry of economy, development and reconstruction, and, in addition, signed by the Ministry of finance, will be a list of goods excluded, classified according to the current tariff positions in the clothing of the same date, which will be constituted by " (: a) those goods which, according to article 2, second paragraph, no accedieren to benefit from this law.
(b) those goods which, in accordance with article 2 °, remain marginalized from the rates of 10%, 5% and 3% of reinstatement, for having passed, in the previous calendar year, the limits of US $10,000,000, US $15,000,000 $18,000,000, in currency of the United States of North America, properly reset according to the article 2 ° standard, final subparagraph.
Also, to the aforementioned list may be: 1) those goods which fishing for investment projects that are designed to produce exports that exceed the $ 10,000,000, in currency of the United States of North America, duly adjusted in accordance with the final subparagraph of article 2.
(2) those raw materials or inputs that constituyeren the main component of exported products not covered by the system established in this law. For operating the above, should there be a founded request filed with the Ministry of economy, development and reconstruction, which demonstrates that the value of the raw or of inputs for which prompted the exclusion of this benefit, is a component of the FOB value of the final product exported not less than 10%. In addition, so that appropriate removal of raw material or the input of the benefit that this law grants, in or on the products exported end must have been used, individually or collectively, at least 20% of domestic sales of this raw material or product in the domestic market, during the last two calendar years prior to the date of the request.
(3) those goods whose tariff, current position at the time of preparation of the list, not reached the average of the past three years calendar, an increase in the amounts exported, properly reset, according to the final article 2 subsection ° equal to or greater than 1.5 times the average growth of the gross geographic product in the same period.
All export declarations corresponding to goods included in the list of exclusions, shall be entitled to receive reimbursement when they have been accepted for processing by the national customs service prior to the publication of the decree that excludes them. "."
IV.-Reemplazanse, in article 4, the phrases "the 2nd and 3rd articles", "the second paragraph of article 2", and "paragraphs third and fourth of article 2", by the following: "article 3", "the first paragraph of article 3", and "second paragraph, N ° s. 1 and 2 of article 3°, respectively.
V replace, in article 4 bis, the phrase "articles 2 ° and 3 °" by "article 3 °".
VI.-replace the letter c) of article 5 bis with the following: "c) exporters which, individually, in the course of the last twelve months have embarked a commodity affects to the repayment of 10% with respect to the corresponding tariff position, in the part that exceeds $10,000,000 FOB value, in currency of the United States of North America, properly reset." On that excess, they will automatically access the benefit of 5% conferred by article 2 of this law.
Goods exported by the same beneficiary with respect to the tariff position, in the part exceeding the FOB value of US $15,000,000 in currency of the United States of North America, properly reset, in the same period of twelve months shall not be entitled to reinstatement to that referred to in the preceding paragraph. On that excess, they will automatically access the benefit of 3% conferred by article 2 of this law.
Nor entitled to refund those exporters which, individually, in the same period referred to in the preceding subparagraphs, have embarked a commodity affects the benefits of this law, in the part that exceeds US $18,000,000 FOB value, in currency of the United States of North America, properly reset. "."
VII.-replace, in subparagraph b) of article 6, the words "article 2" by "article 3".
VIII.-Insert, in article 6, as a third, new subsection, the following: "the deadline to apply for reinstatement before the treasuries will be 120 days, counted from the expiry of the period of return of export which prompted profit.".