Marked tax-paid fuels increase despite ECQ
Published Apr 22, 2020 12:00 am
By Chino S. Leyco
The Department of Finance (DOF) is optimistic that the unhampered implementation of the Bureau of Customs’ fuel marking program would help soften the adverse effects of coronavirus crisis on revenue collections.
Finance Secretary Carlos G. Dominguez III
Finance Secretary Carlos G. Dominguez III said yesterday that the volume of marked tax-paid fuels further increased this month despite the continued implementation of the Luzon-wide enhanced community quarantine (ECQ).
Based on Customs report submitted to Dominguez, a total of 6.87 billion liters of fuel had been already marked by the bureau as of April 15, an increase from the reported 6.45 billion liters on April 2.
Of that total marked fuels, Luzon cornered 75 percent, while Mindanao secured 20 percent and the remaining five percent were in the Visayas.
Per company, Petron had 1.618 billion litres of oil marked; Shell, 1.382 billion liters; Unioil, 785.19 million; Chevron, 709.23 million; Seaoil, 634.67 million; Phoenix Petroleum, 586.09 million; Insu¬lar Oil, 364.16 minion; Total/Filoil 214.42 million; and Jetti, 173.42 million.
Other firms were PPT, 101.27 million; Marubeni, 73.75 million; Micro Dragon, 53.67 million; War¬bucks, 42.96 million; High Glory, 34.4 million; Filoil, 29.4 million; ERA1, 27.32 million; Goldenshare, 25.94 million; SL Gas, 18.36 min¬ion, Jadelink, 4.16 million; and SL Harbor, 403,05.
“Definitely the fuel marking program, as part of our tax reform, is having a positive effect on our revenues and therefore on our ability to withstand the ill effects of the contagion,” Dominguez told reporters.
Last month, Dominguez issued that the government’s anti-fuel smuggling measure will not be affected by the travel restrictions while Metro Manila and other localities are under community quarantine.
He said the Customs bureau’s fuel marker handlers are exempted from the ECQ.
“We can also continue marking with teams already on the ground in various areas,” Dominguez said. “With fuel being exempt from movement restrictions, we would like to continue fuel marking.”
Finance Secretary Carlos G. Dominguez III
Finance Secretary Carlos G. Dominguez III said yesterday that the volume of marked tax-paid fuels further increased this month despite the continued implementation of the Luzon-wide enhanced community quarantine (ECQ).
Based on Customs report submitted to Dominguez, a total of 6.87 billion liters of fuel had been already marked by the bureau as of April 15, an increase from the reported 6.45 billion liters on April 2.
Of that total marked fuels, Luzon cornered 75 percent, while Mindanao secured 20 percent and the remaining five percent were in the Visayas.
Per company, Petron had 1.618 billion litres of oil marked; Shell, 1.382 billion liters; Unioil, 785.19 million; Chevron, 709.23 million; Seaoil, 634.67 million; Phoenix Petroleum, 586.09 million; Insu¬lar Oil, 364.16 minion; Total/Filoil 214.42 million; and Jetti, 173.42 million.
Other firms were PPT, 101.27 million; Marubeni, 73.75 million; Micro Dragon, 53.67 million; War¬bucks, 42.96 million; High Glory, 34.4 million; Filoil, 29.4 million; ERA1, 27.32 million; Goldenshare, 25.94 million; SL Gas, 18.36 min¬ion, Jadelink, 4.16 million; and SL Harbor, 403,05.
“Definitely the fuel marking program, as part of our tax reform, is having a positive effect on our revenues and therefore on our ability to withstand the ill effects of the contagion,” Dominguez told reporters.
Last month, Dominguez issued that the government’s anti-fuel smuggling measure will not be affected by the travel restrictions while Metro Manila and other localities are under community quarantine.
He said the Customs bureau’s fuel marker handlers are exempted from the ECQ.
“We can also continue marking with teams already on the ground in various areas,” Dominguez said. “With fuel being exempt from movement restrictions, we would like to continue fuel marking.”