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Oil excise tax

The Department of Finance reports that 14 billion liters of fuel were marked from Sept. 4, 2019 to Oct. 15, 2020 under the Fuel Marking Program. Data from the department shows Petron Corp. accounted for 3.18 billion liters of the total volume of fuel marked, followed by Pilipinas Shell Petroleum Corp. with 2.8 billion liters and Unioil Petroleum Philippines Inc. with 1.477 billion liters. The Bureau of Customs raised P124 billion in duties and taxes as of Oct. 15, while the Bureau of Internal Revenue collected P19.24 billion in excise taxes from gasoline, diesel, kerosene and other fuel products as Oct. 15, 2020.

Topics: Oil excise tax , Department of Finance , Fuel Marking Program
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