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June 24, 2024

BOC marks 9B liters of fuel, collects P118B in revenues

Aligned with its thrust to curb illicit trade and collect rightful duties and taxes for the government, the Bureau of Customs (BOC) has marked nine billion liters of fuel equivalent to P118 billion duties and taxes for the first half of the year.

With this, the total marked gasoline, diesel, and kerosene from September 2019 to June 2022 were 43.65 billion liters equivalent to P432.3 billion in duties and taxes.

Diesel comprises 60.59 percent of the total volume marked, followed by gasoline with 38.9 percent and kerosene with 0.51 percent of marked volume.

As to location, 73.88 percent of the marking was in Luzon, 20.66 percent in Mindanao, and 5.47 percent in the Visayas.

Also aligned with the program, the BOC and the Bureau of Internal Revenue (BIR) seized a total of 111,157.80 liters of diesel, 3,311 liters of kerosene, 18,839 liters of gasoline and seized two units of tank trucks carrying unmarked fuel with a total estimated value of P14.4 million.

Tanks of 16 retail stations and four private companies where BOC found these unmarked fuels were likewise sealed and recommended for filing of criminal cases.

The fuel-marking program aims to raise revenues while curbing fuel smuggling and leveling the playing field of the Philippine oil industry.