Govt marks more than 7B liters of fuel

THE government has marked more than seven billion liters of fuel under the fuel marking program, the Bureau of Customs (BOC) said, adding that marking operations will continue during the extended period of the community quarantine.

The BOC said in a statement yesterday the volume of petroleum products marked in all marking refineries and terminals nationwide has reached 7.04 billion liters from September 2019 to April 23, 2020.

Luzon has the highest share of marked fuel volume at 75 percent, while Visayas has five percent and Mindanao, 20 percent.

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The BOC said 20 oil companies in the country participated in the program.

These include Pilipinas Shell Petroleum Corp., Petron Corp., Seaoil Philippines, Unioil Petroleum Philippines, Phoenix Petroleum Corp., Chevron Philippines Inc., Oilink International Bataan, Insular Oil Corp., Total Philippines/Filoil, Jetti Petroleum Inc., PTT Philippines Corp., Marubeni Corp., Micro Dragon Petroleum Corp., Warbucks Industries Corp., High Glory Subic International Logistics, ERA1 Petroleum Corp., Golden Share Commerce and Trading Inc., SL Gas, Jade Link Subic Inc. and SL Harbor.

The fuel marking program is mandated by Republic Act 10963 or the Tax Reform for Acceleration and Inclusion law, wherein imported and refined fuel products for domestic consumption with proof of payment of duties and taxes will be marked with the official fuel marker.

“Definitely the fuel marking program, as part of our tax reform, is having a positive effect on our revenues and therefore on our ability to withstand the ill effects of the contagion,” Carlos Dominguez, Department of Finance (DOF) secretary, earlier said.

The DOF previously said the implementation of the fuel marking scheme has resulted in higher reporting of volumes of fuel, thus the government expects to rake in at least P20 billion more with the program in place.

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