Firms back fuel marking scheme
Mary Grace Padin (The Philippine Star) - February 18, 2017 - 10:50pm

MANILA, Philippines - Various companies have expressed support for a proposal to bring back a fuel marking and monitoring scheme to fight oil smuggling and plug tax leakages.

In a recent hearing of the House ways and means committee, representatives of Dow Chemical Philippines Inc., SICPA-Global Fluids International, Authentix Inc. and United Color Manufacturing Inc. all agreed on the need to adopt a fuel marking scheme to complement a proposed increase in fuel excise tax under the Comprehensive Tax Reform Program (CTRP).

Dow Philippines country manager Roberto Batungbacal said the fuel marking scheme would not only help curb smuggling, but also ensure that oil products sold in the market are of high quality, safe, regulated and compliant with environmental standards.

“We recommend that the government develop a comprehensive fuel marking strategy for imported and locally produced fuel throughout the Philippines. We need to leverage best practices from governments that have successfully implemented fuel markings in their countries,” Batungbacal said.

SICPA-GFI managing director Gadi Gonen also said the fuel marking is essential in fighting oil smuggling.

He also cited the fuel marking scheme SICPA-GFI implemented in Tanzania, which raised about $142 million in additional revenues for the country.

Ramon Lacdan, local manager of United Color and Joel Fischl, managing director of Authentix, also agreed on the role of fuel marking in raising a government’s tax revenue.

The adoption of a fuel marking system in the Philippines is one of the provisions of the first package of the CTRP, also filed as House Bill 4774 by Rep. Dakila Cua.

The proposal aims to securely and covertly authenticate petroleum products, prevent oil smuggling, and improve collection efforts of the Bureau of Internal Revenue and Bureau of Customs.

           

ROBERTO BATUNGBACAL
Philstar
Facebook
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with
Read and share the latest news
whenever and wherever you are.
Top Stories
Features the most relevant stories,
exclusive content, analyses and special reports.
As It Happens
Get bite-sized highlights and up-to-date
information as the news breaks.
Latest
View the most recent
stories of the day.
Log-in
Lorem ipsum dolor sit amet,
consectetur adipiscing elit.
Quisque justo est, auctor vel ullamcorper.
Log-in
Lorem ipsum dolor sit amet,
consectetur adipiscing elit.
Quisque justo est, auctor vel ullamcorper.
How to follow As It Happens stories
STEP 1
Click the story in the As it Happens section.
How to follow As It Happens stories
STEP 2
Click "Follow Story" for updates on the news.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.
How to follow Author
STEP 1
Click on the author's name in the article.
How to follow Author
STEP 2
Once you click on the author's name, you will be
brought to the Authors page. Click "Follow Author"
to stay updated on the author's works
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.
How to follow Tags
STEP 1
Click on a tag in the article.
How to follow Tags
STEP 2
When you click on a tag, it will take you to the
dedicated tag page where you'll see the article
viewed, along with other stories with that tag.

Click the "follow tag" button to stay updated on
the topic.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.