Revenues collected by the government from duties and taxes slapped on fuel has amounted to P236.49 billion, since it started to implement its fuel marking program.
Data shared by Carlos Dominguez, Department of Finance (DOF) secretary, to finance reporters yesterday showed that the government has marked 24.34 billion liters of fuel from September 4, 2019, to May 28, 2021.
The duties and taxes collected by the Bureau of Customs from fuel products totaled to P208.52 billion, covering the period of September 2019 to May 27 this year.
Meanwhile, the excise taxes generated by the Bureau of Internal Revenue from petroleum products amounted to P27.97 billion, from December 2019 to May 27, 2021.
Majority or nearly three-fourths of fuel marked so far by the government is in Luzon, while more than 20 percent and around five percent are in Mindanao and Visayas, respectively.
Participating companies include Petron, Shell, Unioil, Seaoil, Insular Oil, Phoenix Petroleum, Chevron, Filoil Logistics, Jetti, Marubeni, PTT, Total-Filoil, Micro Dragon, Goldenshare, Warbucks, ERA1 Petroleum, High Glory Subic, SL Harbour, Jadelink, SL Gas, Power Fill, RK3, Fueleast and Petrotrade.
The fuel marking program is mandated under the Tax Reform for Acceleration and Inclusion Law to curb oil smuggling and misdeclaration of petroleum products in the country, and increase revenue collection from taxable imported and locally refined petroleum products.
The program uses an official fuel marker, a unique chemical marker detectable at a molecular level, allowing for authorities to test, identify and distinguish petroleum products with paid excise taxes in the market from those without.
