Bureau of Customs collects P97B from Fuel Marking Program | Inquirer News
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Bureau of Customs collects P97B from Fuel Marking Program

/ 01:29 PM August 14, 2020

INQUIRER.net FILE PHOTO/Cathy Miranda

MANILA, Philippines — The Bureau of Customs has collected a total of P97.191 billion worth of duties and taxes from the importation of gasoline, diesel, and kerosene through its Fuel Marking Program.

In a statement Friday, BOC said the program’s strong performance affirms the bureau’s commitment to collect lawful revenues for the government.

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The Fuel Marking Program began in September 2019 and continued despite quarantine measures imposed due to the coronavirus disease 2019 (COVID-19) pandemic.

Specifically, the revenue collection from the imported fuel under the program reached P97,191,009,937.55 as of August 6, according to BOC.

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Based on the report of the BOC Enforcement Group, the total volume of fuel marked from September 2019 to August 6, 2020 has reached 10,912,742,121 liters.

Twenty companies have participated in the program, including Petron, Shell and Unioil.

The three companies reported the biggest volume of marked fuel of 2.5 billion, 2.26 billion, and 1.14 billion liters, respectively, according to BOC.

Luzon recorded the largest volume of marked fuel at eight billion liters, followed by Mindanao (2.19 billion liters)  and Visayas (539 million liters).

The program, spearheaded by the Department of Finance, Bureau of Customs, and Bureau of Internal Revenue, was launched to curb illicit trade of petroleum products.

The BOC and Bureau of Internal Revenue continue to implement the program to ensure that. corresponding duties and taxes from petroleum products are collected.

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TAGS: BOC, Bureau of Customs, fuel marking program, Petroleum
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