8 months Fuel marking could earn govt P40B – DoF official Manilatimes |Biz
A newly launched fuel marking program could generate as much as P40 billion in revenues during the first year of implementation, a Finance department official said on Wednesday. “Estimates actually varied. The Asian Development Bank estimated around P20 billion but a separate consumer group estimated P40 billion. So we are hoping to capture … as high as P40 billion and possibly the lowest at P20 billion,” Finance department director Emee Macabales told reporters. Launched earlier this month, the program is designed to check oil smuggling by marking imported and refined gasoline, diesel and kerosene to ensure that taxes and duties are ... more