Dominguez says 2.8b liters of fuel marked

Around 2.79 billion liters of fuel have been marked under the government’s fuel marking program as of Feb. 7, 2020, Finance Secretary Carlos Dominguez III said over the weekend.

Dominguez said in a message to reporters over the weekend that the Bureau of Customs accounted for 2.148 billion liters of the total volume of fuel marked while the Bureau of Internal Revenue had 642 million liters.

He said the participating companies include Unioil, Chevron, Phoenix Petroleum, Seaoil, Shell, Insular Oil, Filoil Energy, PTT, Petron and Warbucks Petroleum.

Dominguez said the “latest addition to the participating companies were Microdragon Petroleum [Subic], High Glory Subic International [Subic], Marubeni Philippines [Subic], Goldenshare Commercial [Subic], Jadelink [Subic] and Era1 Petroleum [Subic].”

The fuel marking program aims to address the proliferation of smuggled fuel in the country. This involves the injection of a chemical signifying correctly paid excise taxes and import duties.

Topics: fuel marking program , Finance Secretary Carlos Dominguez III , Bureau of Customs , Bureau of Internal Revenue , excise taxes , import duties
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