DOE Collaborates With BOC and BIR on Oil Data Harmonization

The Department of Energy (DOE) has announced its collaboration with the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) on “data harmonization” for the government to identify any discrepancies in the oil production volume entering the Philippines compared to the imported barrels being charged with taxes.

DOE’s Oil Industry Management Bureau (OIMB) Director Atty. Rino Abad has mentioned that the “reconciliation” of data began in Q1 of this year due to the past recommendations of the House Committees on Energy and Ways and Means for the included government agencies to think of a strategy to fight back oil smuggling activities in the Philippines.

“We already submitted the first quarter 2022 documents to the BOC and BIR on the volumes imported by the oil companies; so we are now just waiting for feedback from them so we can harmonize the data that we have at hand,” said Atty. Abad.

He likewise also highlighted that the needed requirements from oil companies include the port of entry certificates and their bill of lading. The bill of lading can be retrieved from the carrier company acknowledging the receipt of the shipment.

The House Committee on Energy Chairman Lord Allan Velasco stated that he intends to summon relevant agencies such as BOC, BIR, and the DOE, plus industry players for another session of legislative inquiry to report on updates regarding oil smuggling in the country.

The Philippine Institute of Petroleum (PIP) recently informed Congress that the state continues to record huge revenue losses of an estimated ₱40 billion annually due to smuggling or illegal trading of fuel items.

Source: Manila Bulletin