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Collections from marked fuel nearing P230 billion

DUTIES AND TAXES collected from marked fuel totaled P229.5 billion as of mid-May, the Department of Finance (DoF) said Wednesday.

Around 23.6 billion liters of fuel products were marked between September 2019 and May 15, according to a document released by Finance Secretary Carlos G. Dominguez III via Viber.

Some P201.58 billion was generated by the duties and taxes collected by the Bureau of Customs. The Bureau of Internal Revenue generated P27.92 billion.

Luzon accounted for 73.54% or 17.35 billion liters, Mindanao 21.13% or 4.99 billion liters and the Visayas 5% or over 1.26 billion liters.

Diesel made up 61% or 14.34 billion liters of the total, followed by gasoline with 38% or 7.6 billion liters. Kerosene accounted for 127.92 million liters.

The fuel marking program aims to deter smuggling by injecting the products with a special dye to signify tax compliance. The absence of the dye is deemed prima facie evidence that the fuel was smuggled.

The implementing agencies began collecting in September 2020 the fuel marking fee of P0.06884 per liter, inclusive of value-added tax, charged on all manufactured, refined or imported petroleum products.

The DoF has estimated that revenue foregone due to oil smuggling was between P20 billion and P40 billion a year. — Beatrice M. Laforga

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