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Posts tagged with "Fuel marking"

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...

Fuel marking on petrol products to be implemented next year, says DOF

Fuel marking on petrol products to be implemented next year, says DOF

Nov. 28 | The Department of Finance (DOF) expects the fuel marking and monitoring system mandated under the proposed tax reform law to be in place by the second half of 2018 as part of sustained government efforts to curb smuggling in the oil sector. Finance Secretary...

DOF eyes P2B budget for 2018 launch of fuel marking project

DOF eyes P2B budget for 2018 launch of fuel marking project

Oct. 15 | The Department of Finance (DOF) is proposing a P2-billion budget in 2018 to implement the Bureau of Customs’ (BOC) fuel marking program, one of the tax reform endeavors of the Philippine government to minimize smuggling of petroleum products and boost...

BOC seeks private sector partners for fuel marking project

BOC seeks private sector partners for fuel marking project

Sep. 20 | The Philippine Bureau of Customs (BOC) is asking providers of fuel marking products and services to help the agency implement its fuel marking program. In a recent announcement, BOC Port Operations Service director James Layug said BOC is now drafting...
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