Eurocontrol Technics Ord EUCTF

RE:RE:RE:Philippines fuel marking contract...

[frs1960]

newdaydawning wrote: The Philippines Dept of Finance, an official government organ, is a much more credible source than fuelsandlubes

kidl2 wrote:

A little confusing … Different timelines … This from the more recent article Ringert posted:

 

“The marking of petroleum products shall be mandatory within five years from the effectivity of RA 10963, or 2022 at the latest.”

 

https://fuelsandlubes.com/philippines-to-implement-fuel-marking-program-within-five-years/

All right! And why a government aiming to curb oil smuggling would wait 5 years to do so knowing that every year so much money goes in the organized crime pockets?

he DOF has estimated revenue losses (value-added tax and excise taxes) from smuggled or misdeclared fuel at P26.87 billion (approximately $565.68 million) in 2016 alone.

However, the Asian Development Bank has pegged it at a higher figure of P37.5 billion in losses annually while a study commissioned by the local oil industry estimated foregone revenues at a much higher P43.8 billion per year.