Saturday 16 December
Powered by Ajaxy
Nov 26, 2017 @ 15:29

DOF wants fuel marking system in place by late 2018


The government wants to rollout its new anti-smuggling protocol during the second half of next year.

The Department of Finance (DOF) wants to put in place its fuel marking and monitoring system by late 2018, lending enough time for the agency to acquire the needed equipment and protocol ready.

The fuel marking scheme will allow the government to track whether petroleum products have gone through proper Customs procedures and paid the right taxes, which will make use of special dyes infused in the fuel.

“The procurement process [is expected to be] finished by the first quarter, and we want to implement already by the second half,” DOF Undersecretary Antonette Tionko said in a statement.

Procurement starts as early as December, right before the tax reform program is expected to kick in by Jan. 1, 2018.

Tags: , , , , , , , , ,

Related Stories
The staple drinks of the masses won't be slapped higher taxes.
President Rodrigo Duterte isn't done going after oligarchs after making Lucio Tan and the Rufino-Prieto
More people with jobs will mean improved economic output for the country.


Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo -