Sunday, January 13, 2019

DOE to Validate Excise Tax Imposition of Retail Outlets

Wazzup Pilipinas!

The Department of Energy (DOE), through its Oil Industry Management Bureau (OIMB), continues to monitor retail outlets, particularly those that have already implemented the second tranche of excise tax under the Tax Reform for Acceleration and Inclusion (TRAIN) Law. 

“We are ensuring that our consumers do not become subjects of profiteering. We are issuing Show-Cause Orders (SCOs) to the concerned retail outlets for them to explain their implementation of the second tranche of excise taxes. In addition, we are also validating the prices of their fuel products whether they have already imposed the second wave of excise taxes.” Energy Secretary Alfonso G. Cusi said.

Today (10 January), two teams from DOE-OIMB visited various retail outlets in Caloocan, Quezon City and Malabon to serve the SCOs and validate their documents relative to the imposition of excise tax and its corresponding additional Value Added Tax.

To date, the DOE-OIMB has already received 444 reports on those retail stations implementing second tranche of excise tax.

There are 369 outlets from Petron Corp., 46 from Pilipinas Shell Petroleum Corp. and 29 from Flying V. 

The DOE-OIMB notes that a retail outlet’s imposition of excise tax depends upon the exhaustion of the 2018 existing inventories. Only new inventories in 2019, directly imported or locally produced by refineries, are covered by the second tranche of excise tax.

Moreover, the DOE-OIMB emphasized that the level of inventories varies depending on the status of individual depots and retail outlets and product turnover i.e, diesel, gasoline, kerosene, and liquefied petroleum gas (LPG).

The DOE supports the tax law since its wisdom is anchored on the national vision for progress,Ambisyon Natin 2040.

Sec. Cusi shared, “The funds to be raised from these collections will be invested to the people through key infrastructure projects, intensified social development and other priority projects of the government.” 

“I hope that every Filipino will be supportive of government causes. Also, let us remain vigilant and work together for utmost consumer welfare promotion,” he concluded.

About "" is the fastest growing and most awarded blog and social media community that has transcended beyond online media. It has successfully collaborated with all forms of media namely print, radio and television making it the most diverse multimedia organization. The numerous collaborations with hundreds of brands and organizations as online media partner and brand ambassador makes a truly successful advocate of everything about the Philippines, and even more since its support extends further to even international organizations including startups and SMEs that have made our country their second home.

Post a Comment

Ang Pambansang Blog ng Pilipinas Wazzup Pilipinas and the Umalohokans. Ang Pambansang Blog ng Pilipinas celebrating 10th year of online presence
Copyright © 2013 Wazzup Pilipinas News and Events
Design by FBTemplates | BTT