DUTIES AND TAXES collected from marked fuel products have totaled P299.27 billion as of Oct. 7, counting back to the launch of the program in 2019, the Department of Finance (DoF) said.
The volume of fuel on which the taxes were collected was 30.54 billion liters over the period between Sept. 4, 2019 and Oct. 8, 2021.
The type of revenue generated includes P269.49 billion in Customs duties and P29.78 billion in tax since launch.
Around 73.22% of the marked-fuel volume was in Luzon, 21.32% in Mindanao, and 5.47% in the Visayas.
Diesel accounted for 60.98% and gasoline represented 38.49%, while the rest was from kerosene.
The program aims to deter fuel smuggling by injecting a special dye into the products to signify tax compliance. Absence of the dye is seen as evidence that the fuel was smuggled.
The government in September last year began collecting a fuel marking fee of P0.06884 per liter, inclusive of value-added tax on all manufactured, refined or imported petroleum products.
Revenue foregone due to fuel smuggling was between P20 billion and P40 billion a year, the DoF said. — Jenina P. Ibañez