The government has so far collected P162.79 billion in duties and taxes since the start of its fuel-marking program.
Based on an infographic from the Department of Finance (DOF), the government has so far marked 16.43 billion liters of fuel from September 4 last year until December 8 this year.
“Our goal is to have 100 percent of fuel oil inventory at any time marked,” Finance Secretary Carlos G. Dominguez said.
Pressed whether he thinks the government has marked 100 percent of fuel oil inventory, the finance chief said: “I believe so.”
Of the total amount collected from fuel marked, P140.71 billion came from the Bureau of Customs (BOC) while P22.08 billion came from the Bureau of Internal Revenue (BIR).
In terms of fuel type, diesel cornered the bulk or 61.65 percent followed by gasoline (37.81 percent) and kerosene (0.54 percent).
Luzon also got the lion-share of fuel marked at 74.2 percent. Trailing Luzon is Mindanao with 20.73 percent and Visayas with 5.07 percent.
Leading the list of 22 participating companies in the fuel marking program is Petron Corp., with a 22.82-percent share of fuel marked or 3.75 billion liters.
Next to Petron is Pilipinas Shell Petroleum Corp. with 19.64 percent or 3.227 billion liters, followed by Unioil Petroleum Philippines Inc. with 10.53 percent or 1.73 billion liters, Seaoil Philippines Inc. with 8.37 percent or 1.376 billion liters and Chevron Philippines Inc. with 8 percent or 1.315 billion liters.
Fuel marking makes use of a unique chemical marker that can be embedded at a molecular level in petroleum products—gasoline, diesel, and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes.
Under Republic Act (RA) 10963 (Tax Reform for Acceleration and Inclusion Act), petroleum products that are refined, manufactured, or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene and diesel shall be marked by an official marking agent after payment of taxes and duties.
The DOF expects the fuel marking program to halt the illegal importation, manufacturing and other fraudulent activities relating to the use and sale of petroleum products in the country.
The government earlier said it aims to collect at least P20 billion this year, which is half the estimated P40 billion in revenue lost to oil smuggling in the country.
Fuel marking makes use of a unique chemical marker capable of being embedded at a molecular level in petroleum products—gasoline, diesel and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes.
Under RA 10963, petroleum products that are refined, manufactured or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene, and diesel shall be marked by an official marking agent after payment of taxes and duties.
Spearheaded by the DOF, the BOC and the BIR, the fuel-marking program was launched with the intention of putting a halt to illegal importation, manufacturing and other fraudulent activities relating to the use and sale of petroleum products in the country.