November 27, 2024 | 12:00am
MANILA, Philippines — Taxes collected from the government’s fuel marking program, which aims to curb the smuggling of petroleum products, breached the P1-trillion mark as of November, according to the Bureau of Customs (BOC).
Citing a report from SICPA SA, the BOC said a total of 89.35 billion liters of fuel have been successfully marked, generating P1.028 trillion in taxes.
Of the total, P204.18 billion was collected in 2024 alone.
“This milestone highlights the significant impact of the collaboration between BOC, SGS and SICPA in ensuring fuel integrity and compliance,” the BOC said.
Launched in September 2019, the fuel marking program involves injecting chemical identifiers into tax-paid oil products and is being carried out under the Tax Reform for Acceleration and Inclusion Law to curb the smuggling of petroleum products.
The joint venture of Switzerland-based SICPA SA and SGS Philippines is the provider of the fuel marker for the program.
Be the first to comment