The Department of Finance (DOF) expects the full nationwide implementation of the fuel marking program and several digitalization projects this year to improve the government’s tax administration.
According to a report by the DOF’s Revenue Operations Group (ROG), it expects the fuel marking program, including its enforcement activities to curb smuggling, to be fully operational nationwide by the first quarter of this year.
As of January 6, the volume of fuel marked under the program totalled 17.73 billion liters.
Taxes and duties collected by the Bureau of Customs under the fuel marking program totaled P149.36 billion since its implementation in September 2019 up to last January 4.
The Bureau of Internal Revenue (BIR), meanwhile, collected excise taxes of P23.94 billion under this program from December 2019 up to Dec. 28, 2020.
The ROG also said it is targeting to complete the electronic Tax Exemption System (TES) of the DOF’s Revenue Office (RO) by the first quarter to allow qualified importers to register, file, and track online their duty- and tax-exemption applications.
In 2020, the RO processed 16,650 tax exemption applications, which translated into P12.5 billion in foregone revenues.
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28 January 2021