BOC pushing for continued fuel marking

With oil smuggling abated by fuel marking, the Bureau of Customs (BOC) wants to extend its implementation beyond 2023. The Tax Reform for Acceleration and Inclusion (TRAIN) Act, which took effect in 2018, mandated a five-year implementation of fuel marking, or up to 2023. But since marking activities only started in late 2019, the contract with the firm injecting chemical markers signifying correct oil tax payments had been extended until 2024. "A new issuance may be needed to continue the operations of the program after 2023," the BOC said. The BOC is also pushing for third-party audit of the fuel marking program, which has effectively curbed oil smuggling as proven by loca...

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