On 05/29/2014, Decree No. 8.257/2014 was enacted. The Decree provides the rules for the application of Law No. 10.893/2004 with respect to the Freight Surcharge for Merchant Marine Renewal (AFRMM) and the Merchant Marine Fund (FMM).

Article 12 of Decree No. 8.257/2014, on the same topic as Law No. 10.893/2004, provides for the suspension of AFRMM in connection with those imports under special customs regimes. The AFRMM will only be due when (and if) the imported item is subject to customs clearance for consumption.

On 05.30.2014, Normative Instruction No. 1,471 was enacted. It provides for the AFRMM control, collection and inspection procedures, including the time limits for providing information to the tax authorities, alteration of the information provided, and refund procedures.

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Founded in 2001, Tauil & Chequer Advogados is a full service law firm with approximately 90 lawyers and offices in Rio de Janeiro, São Paulo and Vitória. T&C represents local and international businesses on their domestic and cross-border activities and offers clients the full range of legal services including: corporate and M&A; debt and equity capital markets; banking and finance; employment and benefits; environmental; intellectual property; litigation and dispute resolution; restructuring, bankruptcy and insolvency; tax; and real estate. The firm has a particularly strong and longstanding presence in the energy, oil and gas and infrastructure industries as well as with pension and investment funds. In December 2009, T&C entered into an agreement to operate in association with Mayer Brown LLP and become "Tauil & Chequer Advogados in association with Mayer Brown LLP."

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This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.