Philippines

BoC collects over P97 B from marked-fuel imports

The Bureau of Customs (BoC) announced that it collected more than P97 billion duties and taxes from the importation of marked gasoline, diesel, and kerosene through the implementation of the Fuel Marking Program.

As of August 6, the revenue collection from the imported fuel under the program has reached P97,191,009,937.55, the bureau said Friday.

The Fuel Marking Program, which was implemented to counter oil smuggling in the country, began in September 2019 and continued during the community quarantine amid the coronavirus pandemic.

Based on the Customs-Enforcement Group’s report, a total volume of 10,912,742,121 liters fuel were marked from September 2019 to August 6, 2020.

Since then 20 companies have participated in the program, including Petron, Shell and Unioil, which reported the highest volume of marked fuel of 2.5 billion, 2.26 billion, and 1.14 billion liters, respectively. (Betheena Unite)

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