Issue of January 6, 2019
     
NEWS
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Benguet
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OPINION
 

71th Courier Anniversary Issue
 
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DOE to oil players: 2nd tranche of excise not for 2018 oil stocks
by DOE release

Department of Energy Sec. Alfonso G. Cusi enjoined oil industry players to empty first their 2018 oil inventories before applying the second round of the excise tax to petroleum products for 2019.

The DOE, in close coordination with the Department of Finance, Bureau of Customs, and Bureau of Internal Revenue, devised a mechanism to monitor existing oil inventories following the implementation of the second tranche of Tax Reform for Acceleration and Inclusion (Train) law on Jan. 1.

“We are ready to implement the second tranche of Train, which imposes additional excise taxes to various commodities like petroleum products by New Year. We have to ensure its proper implementation because the new collection will be used to support our Build, Build, Build programs, free tuition, and medical assistance for our kababayans,” Cusi said.

He said with the imposition of the additional excise taxes, the DOE is stringently looking at the 2018 inventories of oil companies in order to protect consumers from unjust trading and profiteering once the second tranche is operationalized.

“The sale of old stocks, referring to the remaining balance of the inventory ending Dec. 31, 2018, which was not covered by the second tranche of excise taxes, should not be collected from the consumers. Otherwise, it would be a violation of the law. Not only administrative penalties like closure of the establishment will be imposed, but also the criminal penalty of large scale estafa,” Cusi added.

He said the agency is confident that everyone will cooperate.

The DOE, together with its partners and stakeholders, provided mitigating measures to help consumers cope with the effects of the Train law during its first implementation, such as fuel discounts through the corporate social responsibility and promotional programs, Pantawid pasada, energy efficiency tips, and rigorous monitoring of gas stations to ensure good quality and right quantity of petroleum products.


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PWU Baguio
Technical Education & Skills Development Authority – CAR
University of Baguio

Baguio Central University
Baguio Country Club
Benguet Electric Cooperative Inc.
Bureau of Fisheries and Aquatic Resources – CAR
Congressman Ronald M. Cosalan
Department of Health – CAR
Grab
John Hay Management Corporation
National Grid Corporation of the Philippines
New Media Services
Pag–IBIG Fund
Pines City Colleges
Sangguniang Panlungsod
SiTEL

ABC360
Assumption Medical Diagnostic Center
Baguio Center Mall
Baguio Water District
Choobi Choobi
Congressman Mark O. Go
Councilor Leandro B. Yangot Jr.
Curamed Pharmacy
Department of Environment and Natural Resources – CAR
Department of Public Works and Highways – CAR
Department of Science and Technology
Fabulo Beauty and Image Salon
Far East Pacific Commercial
Filipino–Japanese Foundation of Northern Luzon, Inc.
Ganza & Solibao Restaurants
Gen. Benjie B. Magalong
GMS Technology
Governor Crescencio C. Pacalso
Maybank
Mayor Mauricio G. Domogan
Mayor Romeo K. Salda
Mother Earth Deli Basket
Nagomi Spa
Narda’s / Sunflower Ridge
NIIT
Northern Luzon School for the Visually Impaired, Inc.
Our Lady of Mt. Carmel Montessori, Inc.
Philex Mining Corporation
Police Regional Office – CAR
Regional Development Council – CAR and National Economic and Development Authority – CAR
Regional Tripartate Wages and Productivity Board – CAR
SN Aboitiz
Tony Boy Tabora
Veterans Bank

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