Friday, October 22, 2021
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Customs eyes oil inventory system

THE Bureau of Customs (BOC) will establish an oil inventory system to monitor movement of oil in smuggling hotspots Subic, Batangas and Manila, a Customs official said.

The system will help the BOC determine if taxes have been paid and which fuel products are illegally imported.

“We are finalizing the computerized petroleum inventory management system that will track inventory of petroleum going in and out of ports,” said Customs deputy commissioner Alexander Arevalo.

Arevalo’s department is leading the activity, which forms part of Information and Communications Technology projects being undertaken by the BOC to facilitate trade and reduce the incidence of smuggling.

Arevalo said the system will further enhance the BOC’s revenue-generation measures.

The BOC is presently looking at the inventory of PTT Philippines Corp., Shell, Triglobal and Chevron.

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