A total of 23.59 billion liters of oil generated P229.5 billion in revenues as of mid-May under the government’s fuel marking program, Finance Secretary Carlos Dominguez III said on Wednesday.
The volume of marked fuel included 12.05 billion liters during the first year of implementation starting September 2019, plus 11.54 billion liters in the current second year running, Dominguez said in a report.
The cumulative import duties and other taxes collected by the Bureau of Customs (BOC) as of last week amounted to P201.58 billion.
The Bureau of Internal Revenue (BIR), for its part, generated P27.92 billion in excise taxes through the program.
The bulk of fuel products injected …
Keep on reading: Tax take from marked fuel hits P229.5B, Dominguez says