^
Marked fuel taxes reach P192.756 billion
The taxes were collected from 19.903 billion liters of fuel marked from Sept. 4, 2019 to Feb. 17, 2021.
Edd Gumban/File

Marked fuel taxes reach P192.756 billion

Czeriza Valencia (The Philippine Star) - February 25, 2021 - 12:00am

MANILA, Philippines — The government has collected P192.756 billion in excise taxes and duties after about a year-and-a half of implementing the fuel marking system.

Finance Secretary Carlos Dominguez said Monday that duties and taxes collected by the Bureau of Customs (BOC) reached P166.176 billion from September 2019 to Feb. 17, 2021.

The Bureau of Internal Revenue (BIR), meanwhile, collected a total of P26.58 billion in excise taxes from December 2019 to Feb. 11, 2021.

The taxes were collected from 19.903 billion liters of fuel marked from Sept. 4, 2019 to Feb. 17, 2021.

The bulk of the marked fuel was diesel at 12.19 billion liters comprising 61.23 percent of total; gasoline at 7.61 billion liters comprising 38.24 percent of total; and kerosene at 105.47 million liters comprising 0.53 percent of  total.

Most of the fuel marked by the government  were in Luzon, making up 73.82 percent of  total; while 5.12 percent and 21.06 percent of the total were in Visayas and Mindanao, respectively.

Oil firms currently participating in the fuel marking program are: Petron, Shell, Unioil, Seaoil, Chevron, Phoenix, Insular Oil, Filoil, Jetti, Total/Filoil, Marubeni, PTT, Micro Dragon, Goldenshare, Warbucks, Era1, High Glory Subuc, SL Harbor, Jadelink, SL Gas, Power Fill and Petrotrade.

The fuel marking program is mandated under the Tax Reform for Acceleration and Inclusion Law to curb oil smuggling that may result from the increase in taxes in fuel under the same law.

It is also intended to increase tax take from locally refined and imported petroleum products.

Under the program, authorities use a chemical marker to identify petroleum products that paid the right taxes.

FUEL
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with