THE government has marked 7.7 billion liters of fuel as of May 21 under its fuel marking program, the Bureau of Customs (BOC) said in a statement yesterday.
According to the BOC, 20 petroleum companies participated in the marking activities nationwide which began in September 2019.
Of the total volume of marked fuel, Luzon accounted for 76 percent, while Mindanao accounted for 20 percent and Visayas, 4 percent.
The BOC said of the total fuel marked, 135.4 million liters was marked during the period of quarantine restrictions.
“(This) manifests (the) unrelenting effort in implementing the fuel marking program and collecting the proper revenue that is essentially needed to support various assistance programs by the government in this time of crisis,” the BOC said.
The fuel marking program is mandated by Republic Act 10963 or the Tax Reform for Acceleration and Inclusion law, wherein imported and refined fuel products for domestic consumption with proof of payment of duties and taxes will be marked with the official fuel marker.
“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,” Carlos Dominguez, Department of Finance (DOF) secretary, previously said.
The DOF earlier said the implementation of the fuel marking scheme has resulted in higher reporting of volumes of fuel, thus the government expects to rake in at least P20 billion more with the program in place.
