Gov’t rakes in P207B from fuel tax

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    Revenues collected by the government from duties and taxes slapped on fuel has amounted to P206.5 billion, since it started to implement its fuel marking program.

    Data shared by Carlos Dominguez, Department of Finance secretary, to finance reporters yesterday showed the government has marked 21.17 billion liters of fuel from September 4, 2019, to March 18, 2021.

    The duties and taxes collected by the Bureau of Customs from fuel products totaled to P179.05 billion, covering the period of September 2019 to March 18 this year.

    Meanwhile, the excise taxes generated by the Bureau of Internal Revenue from petroleum products amounted to P27.47 billion, from December 2019 to March 11, 2021.

    Majority or nearly three-fourths of fuel marked so far by the government is in Luzon, while more than 20 percent and around 5 percent are in Mindanao and Visayas, respectively.
    In terms of fuel type, around 61 percent is accounted for by diesel, more than 38 percent by gasoline, with the remaining minimal share taken by kerosene.

    Participating companies include Petron, Shell, Unioil, Seaoil, Phoenix Petroleum, Insular Oil, Chevron, Filoil Logistics, Jetti, Marubeni, Total-Filoil, PTT, Micro Dragon, Goldenshare, Warbucks, ERA1 Petroleum, High Glory Subic, SL Harbour, Jadelink, SL Gas, Power Fill, Feuleast 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. – Angela Celis