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Posts tagged with "Fuel marking"

PH fuel marking program implementing rules released

PH fuel marking program implementing rules released

Sep. 10 | Image courtesy of yodiyim at FreeDigitalPhotos.net The Bureau of Customs (BOC) has finally released implementing rules for its fuel marking program, which mandates marking and testing of petroleum products under the Tax Reform for Acceleration and Inclusion...

Implementation of fuel marking program starts

Implementation of fuel marking program starts

Aug. 2 | The first live marking of petroleum products occurred at the Seaoil Bulk Terminal in Mabini, Batangas on August 2. Photo courtesy of the Bureau of Customs. The Department of Finance (DOF), Bureau of Customs (BOC), and Bureau of Internal Revenue (BIR)...

Oil companies back fuel marking program

Oil companies back fuel marking program

Jul. 30 | In preparation for implementation of the fuel marking program, a simulation of the fuel marking and testing process was conducted in Subic Bay on July 25 by the Bureau of Customs in coordination with PTT Philippines and fuel marking provider SICPA-SGS...

Fuel marking program to produce P5B this year—finance chief

Fuel marking program to produce P5B this year—finance chief

Jul. 9 | The Philippines’ fuel marking program is scheduled to be implemented in the third quarter of this year and will bring in at least P5 billion in revenues for 2019, according to Finance Secretary Carlos Dominguez III. The implementation follows the publication...

PH fuel marking program implementing rules issued

PH fuel marking program implementing rules issued

Jul. 6 | Image by Rudy and Peter Skitterians from Pixabay The Philippine government has finally released implementing guidelines for the fuel marking program designed to curb oil smuggling and plug revenue losses arising from illegal importation or misdeclaration...

PH fuel marking program launched, to raise P27B in BOC revenue

PH fuel marking program launched, to raise P27B in BOC revenue

Feb. 9 | The Bureau of Customs (BOC) projects additional revenues of P27 billion this year as it officially launched its fuel marking program, which starts nationwide implementation in March. Customs Commissioner Rey Leonardo Guerrero, Bureau of Internal Revenue...

JV of SICPA and SGS secure BOC’s fuel marking project

JV of SICPA and SGS secure BOC’s fuel marking project

Nov. 6 | The joint venture of Swiss-based SICPA SA and locally based SGS Philippines, Inc. has won the contract to provide a fuel marking program for the Philippine Bureau of Customs (BOC). In the contract agreement signed by the parties on October 29, the Department...

DBM to assist BOC in finding a fuel marking service provider

DBM to assist BOC in finding a fuel marking service provider

Jan. 14 | The Philippine Bureau of Customs (BOC) has tapped the Department of Budget and Management-Procurement Service (DBM-PS) to procure a service provider that will implement the BOC’s fuel marking program. BOC and DBM-PS signed on December 28, 2017 a memorandum...

With TRAIN passage, fuel marking in PH now mandatory

With TRAIN passage, fuel marking in PH now mandatory

Jan. 4 | Marking of petroleum products, whether imported or manufactured locally in the Philippines, will now be mandatory under the recently signed Tax Reform for Acceleration and Inclusion (TRAIN) Law or Republic Act (R.A.) No. 10963. Section 148-A of the law...

PH customs chief confident of meeting 2018 revenue target of P627B

PH customs chief confident of meeting 2018 revenue target of P627B

Dec. 11 | Customs Commissioner Isidro Lapeña is optimistic the Bureau of Customs (BOC) will hit the P627 billion target for 2018 as long as they continue with reforms recently put in place. “If we do things right, if we go by the correct valuation, I am optimistic...