BOC collects P118B from fuel marking in H1
The Bureau of Customs (BOC) said on Saturday it had collected P118 billion in duties and taxes during the first six months of 2022 from nine billion liters of marked fuel.
The Tax Reform for Acceleration and Inclusion (TRAIN) Law mandates fuel marking in order to reduce oil smuggling.
Imported fuel is marked by the government using a special ink that means necessary import duties have been paid.
In a statement, the BOC said the marking of nine billion liters of imported fuel during the first half of the year was "aligned with its thrust to curb illicit trade and collect rightful duties and taxes for the government."
With this, the Customs said the total marked gasoline, diesel, and kerosene from September 2019—when the fuel marking program started—until June 2022 was 43.65 billion liters, equivalent to P432.3 billion in duties and taxes.
The BOC said that diesel comprises the lion’s share of the total volume marked at 60.59%, followed by gasoline with 38.9% and kerosene with 0.51% of the marked volume.
As to location, 73.88% of the marking was in Luzon, 20.66% in Mindanao, and 5.47% in the Visayas.
The Customs added that, together with the Bureau of Internal Revenue, they seized a total of 111,157.80 liters of diesel, 3,311 liters of kerosene, and 18,839 liters of gasoline, and seized two units of tank trucks carrying unmarked fuel with a total estimated value of P14.4 million.
The fuel 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, it said. —VBL, GMA News