Tuesday, October 26, 2021
HomeCustoms & TradeFuel marking nets P44.6B in Q3

Fuel marking nets P44.6B in Q3

  • A total of 4.318 billion liters of kerosene, diesel and gasoline were marked and P44.57 billion in duties and taxes collected in the third quarter of 2021 under the fuel marking program
  • From September 2019 until September 2021, the government has marked 30.47 billion liters of fuel and took in P286.8 billion in duties and taxes

A total of 4.318 billion liters of kerosene, diesel and gasoline were marked and P44.57 billion in duties and taxes were collected in the third quarter of 2021 under the fuel marking program, according to the Bureau of Customs (BOC).

From September 2019 when the program started until September 2021, the government has marked 30.47 billion liters of fuel and took in P286.8 billion in duties and taxes, BOC said in a statement.

The implementation of the fuel marking program is among key provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Law. Marking of fuel products, whether imported or manufactured in the Philippines, will become mandatory five years after the TRAIN Law took effect on January 2018. Fuel marking aims to curb oil smuggling and plug revenue losses arising from the illegal importation or misdeclaration of petroleum products.

Part of the program is field testing activities, which BOC and the Bureau of Internal Revenue (BIR) started implementing last April. The random field and confirmatory testing covers gasoline, diesel and kerosene found in warehouses, storage tanks, gas stations and other retail outlets, and in such other properties or equipment, as well as in vessels, tank trucks and similar fuel transporting vehicles.

Petroleum products found without the official fuel marker or not containing the required level of official fuel marker will be slapped duties and taxes, inclusive of fines and penalties. They may also be confiscated and forfeited and face the filing of the appropriate criminal case.

READ: BOC confiscates 6,300L unmarked diesel from Pampanga gas station

Last September, BOC seized 6,357 liters of unmarked diesel at one of the retail gas stations of Petromobil Corp. in Pampanga.

READ: DOE, BOC, BIR join forces in war against oil smugglers

Last May, the Department of Energy, BOC and BIR signed a memorandum of agreement to exchange information in a bid to further strengthen the government’s fight against fuel smuggling.

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