On April 1, 2023, Chile’s Ministry of Finance published a decree updating certain tariff value thresholds, including the value-added tax (VAT) and customs duty de minimis value from 30USD Free on Board (FOB) to 41USDFOB. The modification follows a local requirement to periodically update tariff value thresholds that are more susceptible to inflation.
WHAT IS CHANGING?
General Norm CVE 2294382 updated the value of the tariff headings 00.09, 00.23, and 00.26 as required by Law 20997 which indicates that every 60 months, the value of the previously mentioned tariff headings shall be updated based on the Index of Wholesale Prices for United States. The period considered for the current update was November 1, 2017, to October 31, 2022.
As a result, tariff heading 00.23, which establishes the threshold value for de minimis shipments, increased from 30USD FOB to 41USDFOB.
The new Chile de minimis threshold value of 41USD FOB became effective April 1, 2023.
REFERENCES:
General Norm CVE 2294382 (Spanish):
https://www.diariooficial.interior.gob.cl/publicaciones/2023/04/01/43517/01/2294382.pdf
Law 20997 (Spanish):
https://www.bcn.cl/leychile/navegar?idNorma=1100901&idParte=9779554&idVersion=2017-03-13