BOC collects P97B plus fuel tax

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

In a statement, the BOC said the agency’s  strong performance affirms

the BOC's continued commitment to protect the borders and collect lawful revenues for the government.

“The Fuel Marking Program began marking in September 2019 and

continued even during the community quarantine implementation. As of August 6, 2020, the revenue collection from the imported fuel under the program has reached 97,191,009,937.55.,” it said.

Based on the BOC-Enforcement Group's report, 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 highest volume of marked fuel of 2.5 billion, 2.26 billion, and 1.14 billion liters, respectively.

By island group, Luzon has the largest volume of marked fuel at 8 billion liters, followed by Mindanao at 2.19 billion liters, then Visayas at 539 million liters.

The Fuel Marking Program was launched by the Philippine government to curb illicit trade of petroleum products.  The program is spearheaded by the Department of Finance, Bureau of Customs, and the Bureau of Internal Revenue.

The BOC and Bureau of Internal Revenue continue to implement the program to ensure that the market's fuel products have paid the corresponding duties and taxes due to the government during the current pandemic.

Topics: Bureau of Customs , Bureau of Internal Revenue , Department of Finance , Fuel Marking Program , Petron , Shell , Unioil
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