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With the rise in fuel prices, the government is considering reducing maritime freight rates.
- Created to supply the Merchant Marine Fund (FMM), the AFRMM charges water transport unloaded at ports.
03/14/2022
With the rise in fuel prices and the turmoil in the fertilizer sector, the plan to lower sea freight charges gained momentum in the federal government and Congress through a cut in the Additional Freight for Renewal of the Merchant Marine (AFRMM). Created to supply the Merchant Marine Fund (FMM), the AFRMM charges water transport unloaded at ports. The measure should reduce import costs, with reflections on the inputs used by agribusiness, for example.
The reduction in taxation is tested on two fronts. The government is considering editing a decree to lower the tax rates by around 30%, an act that can be published in the next two weeks. In the second, there is an articulation to reverse a veto by President Jair Bolsonaro, who barred the cut in the rates approved within the cabotage incentive project, BR do Mar. Congress is expected to review the president's decision this week. One of the strongest benches in Parliament, the National Agricultural Front (FPA), will work to overturn the veto.
Source: Estadão
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