The BoC Fuel Marking Program raises the P60B to Q1
The Customs Bureau (BoC) said Monday it had collected P60.15 billion in tariffs and taxes from its fuel identification program. fiThe first quarter of 2022.
In a statement, the BoC said it had identified 4.72 billion liters of petrol, diesel and kerosene between January and March as part of efforts to curb smuggling.
Since the program began in September 2019 and until March this year, Customs has collected 39.316 billion liters of petrol, diesel and kerosene from P374.13 billion in tariffs and taxes.
More than 73% of the fuel was identified in Luzon, while 21% was identified in Mindanao and the rest in Visayas.
Diesel accounts for 60% of the total volume identified, followed by petrol for 39%. There was kerosene left.
The bureau said 28 oil companies are currently participating in the government’s energy identification program.
The government sought to prevent fuel smuggling through energy identification programs, which included a special dye injection into fuel products to imply tax compliance. The absence of pigment is considered an indication that the fuel was probably smuggled.
The BoC and the Bureau of Internal Revenue carry 93,043 liters of diesel, 18,839 liters of kerosene, and two trucks of unmarked fuel, with a total estimated value of P13.36 million. The BOC said it had recommended fiThere are criminal cases against two private companies and 12 retail stations where unmarked fuel was found.
“The Customs Bureau will continue to enforce its orders to identify petroleum products under the Fuel Identification Program to prevent fuel smuggling in the Philippine oil industry and increase revenue while leveling the playing field,” the agency said.
Fuel retailers, meanwhile, were set to raise pump prices on Tuesday. The price of petrol will increase by P0.45 per liter, while the price of diesel will increase by P1.70 The price of kerosene will increase by P0.45 per liter.
Based on data from the Department of Energy, the year-to-date price increase for diesel is P25.65 per liter, P21.10 per liter of kerosene and P15 per liter. – Tobias Jared Thomas
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