LAW NO. 20,794 EXTENDS THE COVERAGE OF THE PRICE STABILIZATION MECHANISM OF FUELS CREATED BY LAW NO 20,765 Having regard to the fact that the National Congress has given its approval to the following Bill: " Single article.- Introduce the following amendments in law No. 20,765, which creates a new Fuel Price Stabilization Mechanism that indicates: 1) Add in the first paragraph of article 1, following the point apart, which becomes a point followed, the following sentence: "For the purposes of this law, in the case of automotive gasoline, the expression" fuel "or" fuels " The meaning of each of the gasolines, irrespective of their octane, is that they are taxed in their first sale or import with the specific tax laid down in Law No 18.502. ' 2) Intercalase in article 2 the following eighth, new, passing the current eighth indent to be ninth and so on: " In the case of the automotive gasolines, the price of parity referred to in the previous paragraph must be determined for those with a representative price for a relevant international market. The determination of the existence of a representative price on a relevant international market shall be carried out by the National Energy Commission in consultation with the national producers and importers. ' 3) Following meaning: (a) Intercalase in its first indent, between the expression "refers" and the word "is" the following sentence "the first paragraph of article 1 of". (b) In the first subparagraph of paragraph 1, the following sentence shall be added to the following sentence: "In the case of automotive gasoline, the base price shall be determined for those referred to in Article 2 (8)." (c) Add in the first paragraph the following numeral 8: " 8. In the case of automotive gasoline mixtures, the variable component of the specific tax shall be the result of a weighted average of the variable components of each of the gasolines that make up the mixture, using as (d) Add in its third indent, following the first point followed, the following sentence: " For the calculation of the taxable amount of the value added tax, in the case of mixtures For automotive gasoline, the provisions of paragraph 8 of the first paragraph of this paragraph shall be Article. The result of this transaction shall be the amount to be deducted for the purposes of determining the tax referred to. '4) Amend Article 4 in the following sense: (a) Add, following the word' zero ', the following expression:'; a period of up to 12 weeks. This convergence shall be materialised by multiplying the variable component of the specific tax by a factor equivalent to the result of the subtraction between twelve and the number of weeks elapsed from the date on which it was estimated that the exceeding the $500 million required, all divided by twelve. "b) Redeploy the expression" at a rate such that in a period of twelve weeks no additional difference greater than the equivalent of pesos to US$ 100 million will be accumulated, on the basis of of the exchange rate in force at that date. ', as follows:' If in that period a change is considered to be additional difference greater than the equivalent in pesos to US$ 100 million, on the basis of the exchange rate in force at that date, the mechanism shall end its operation the week in which that sum has been accumulated. "(c) Replace the expression" Said estimation "by" The estimation that leads to convergence ". Transitional Article.-The amendments introduced by this law shall enter into force on the Thursday following that in which the amending decree of the regulation of law No. 20,765 has been published in the Official Journal. " And because I have had to approve and sanction it; therefore, promulgate and take effect as the Law of the Republic. Santiago, 6 November 2014.-MICHELLE BACHELET, President of the Republic.-Alberto Arenas de Mesa, Minister of Finance.-Maximo Pacheco Matte, Minister of Energy. What I transcribe to you for your knowledge.-Saluda Atté. to you, Alejandro Micco Aguayo, Undersecretary of Finance.