BRAZIL SEES AFRMM EXEMPTION EXTENDED FOR NORTH, NORTHEAST SHIPPING

A bill before Brazil’s Congress would extend the AFRMM freight surcharge exemption for cargo moving through North and Northeast ports until Jan. 8, 2032, from the current expiry date of Jan. 8, 2027. The measure aims to lower shipping costs and support regional competitiveness. AFRMM rates range from 8% to 40% of freight value, depending on the service, and fund the Merchant Marine Fund (FMM). According to the bill’s sponsor, the tax waiver totaled about BRL 2.5 billion between 2007 and 2017, representing roughly 9% of AFRMM revenue over the period. The proposal is under an expedited legislative process and will be submitted to Brazil’s Chamber of Deputies for a plenary vote.
Source: O Presente Rural