The Bureau of Customs (BOC) reported collecting P242 billion in duties and taxes in 2024 through its fuel marking program. This marked a 5% increase from the previous year, successfully ensuring 20 billion liters of fuel were marked. The program, mandated by the Tax Reform for Acceleration and Inclusion (Train) law, aims to combat smuggling and ensure compliance with tax regulations. The BOC also disclosed P85.167 billion worth of smuggled goods seized in over 2,100 operations, revoking accreditations of 56 importers and filing 45 criminal cases. Collaboration with other agencies remains a key strategy for combating illicit trade.
A total of P242 billion in duties and taxes were collected by the Bureau of Customs in 2024 under its fuel marking program.
Under the law, petroleum products that are refined, manufactured, or imported to the Philippines such as unleaded premium gasoline, kerosene, and diesel, must be marked by an official marking agent after taxes and duties have been paid. It added that these enforcement actions targeted various illicit items, such as counterfeit products, illegal drugs, smuggled tobacco and vape goods, and agricultural products that pose risks to farmers and consumers.
Finance FUEL MARKING CUSTOMS SMUGGLING TAX REFORM PHILIPPINE ECONOMY
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