The government has so far collected P170.27 billion in duties and taxes since the start of fuel-marking program.
From September 2019 until December 24 last year, a total of 17.3 billion were injected with fuel markers, based on the infographic shared by Finance Secretary Carlos G. Dominguez III with Finance reporters.
Of the P170.27 billion, 86.24 percent or P146.84 billion was collected by the Bureau of Customs (BOC) while the remaining 13.76 percent or P23.43 billion was collected by the Bureau of Internal Revenue (BIR) as of December last year.
In terms of fuel type, diesel cornered the bulk or 61.39 percent of fuel marked, followed by gasoline (38.07 percent) and kerosene (0.58 percent).
Most of the fuel marked was in Luzon (73.99 percent), then Mindanao (20.94 percent) and Visayas (5.07 percent).
Leading the 22 companies that participated in the fuel-marking program is Petron with a 22.87-percent share of fuel marked or 3.96 billion liters.
Trailing Petron is Shell with 19.64 percent or 3.4 billion liters, followed by Unioil with 10.54 percent or 1.82 billion liters, Seaoil with 8.26 percent or 1.43 billion liters, and Chevron with 7.81 percent or 1.35 billion liters.
Fuel marking makes use of a unique chemical marker that can be embedded at a molecular level in petroleum products—gasoline, diesel and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes.
Under Republic Act 10963 or the Tax Reform for Acceleration and Inclusion Act (TRAIN), petroleum products that are refined, manufactured or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene, and diesel, shall be marked by an official marking agent after payment of taxes and duties.
Spearheaded by the Department of Finance, the Bureau of Customs and the Bureau of Internal Revenue, the fuel-marking program was launched with the aim of halting illegal importation, manufacturing and other fraudulent activities relating to the use and sale of petroleum products in the country.
Source: https://businessmirror.com.ph/2021/01/05/fuel-marking-so-far-nets-government-p170-27-billion-in-duties-and-taxes/
