{"id":269447,"date":"2020-09-22T04:02:29","date_gmt":"2020-09-22T08:02:29","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=269447"},"modified":"2020-09-22T04:02:30","modified_gmt":"2020-09-22T08:02:30","slug":"revenues-from-fuel-marking-hit-p131-b","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/09\/22\/revenues-from-fuel-marking-hit-p131-b\/","title":{"rendered":"Revenues from fuel marking hit P131-B"},"content":{"rendered":"<figure id=\"attachment_269459\" aria-describedby=\"caption-attachment-269459\" style=\"width: 4849px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/09\/pexels-skitterphoto-9796.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-269459\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/09\/pexels-skitterphoto-9796.jpg\" alt=\"\" width=\"4849\" height=\"3228\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/09\/pexels-skitterphoto-9796.jpg 4849w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/09\/pexels-skitterphoto-9796-300x200.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/09\/pexels-skitterphoto-9796-768x511.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/09\/pexels-skitterphoto-9796-1024x682.jpg 1024w\" sizes=\"auto, (max-width: 4849px) 100vw, 4849px\" \/><\/a><figcaption id=\"caption-attachment-269459\" class=\"wp-caption-text\">In terms of fuel type, diesel registered the highest volume that has been marked at about 7.92 billion liters or 62.30 percent of the total. (File&#8221; Pexels Photo)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 The government has collected about PHP131.17 billion worth of taxes until the middle of September from the implementation of the fuel marking program.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Data from the Department of Finance (DOF) showed that the bulk of the collections are made by the Bureau of Customs (BOC) amounting to PHP112.35 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Specifically, BOC revenues came from duties and taxes collected from 20 oil companies from September 2019 until Sept. 17, 2020.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Excise taxes collected by the Bureau of Internal Revenue (BIR) from December 2019 until Sept. 10, 2020 amounted to PHP18.82 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">These taxes are from the total of 12.71 billion liters of oil.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In terms of fuel type, diesel registered the highest volume that has been marked at about 7.92 billion liters or 62.30 percent of the total.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Gasoline came in second with about 4.73 billion liters, or 37.19 percent; and then kerosene, 64.09 million liters or about 0.50 percent.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Most or about 75 percent of the marked fuel are from Luzon-based oil companies, followed by those from Mindanao, 20 percent; and Visayas, 5 percent.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Total volume of marked fuel from Luzon-based companies reached almost 9.5 billion liters, followed by the about 2.6 billion liters from Mindanao, and the 620.01 million liters from the Visayas.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Fuel marking is one of the government\u2019s solutions to address oil smuggling, which hinders the collection of about PHP20 billion worth of revenues a year.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This program is a requirement under the Tax Reform for Acceleration and Inclusion (TRAIN) law.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">To date, the companies that are part of this program are Petron, Shell, Unioil, Chevron, Seaoil, Phoenix Petroleum, Insular Oil, the joint venture of Total and Filoil, Jetti, PTT, Marubeni, Micro Dragon, Filoil, Warbucks, SL Harbor, Goldenshare, High Glory Subic, Erai, SL Gas, and Jadelink.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 The government has collected about PHP131.17 billion worth of taxes until the middle of September from the implementation of &hellip;<\/p>\n","protected":false},"author":33,"featured_media":269459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482],"tags":[],"class_list":["post-269447","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/269447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=269447"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/269447\/revisions"}],"predecessor-version":[{"id":269461,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/269447\/revisions\/269461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/269459"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=269447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=269447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=269447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}