Palace group goes after 4 oil companies
THE Presidential Anti-Smuggling Group is seeking P3.8 billion in damages and revenue losses from four petroleum firms accused of smuggling oil into the country.
Group head Antonio Villar Jr. said Oilink International Corp., PTT Philippines Corp., Tri-Solid Movers Services Inc., and Mawab and Andan Resources were not out of the woods yet despite paying P482 million in back taxes and penalties.
“They still have to pay another P400 million to erase the stigma of having been caught defrauding the government through the technical smuggling of fuel,” Villar said.
“Furthermore, if the oil firms are found guilty of defrauding the government of duties and taxes, the determined revenue loss of P482 million will be multiplied by eight, which means [they] will have to pay a total of P3.8 billion,” he said.
The group earlier pressed criminal charges against eight Oilink officers and four Customs officials following the smuggling of oil from the Subic Bay Free Port early this year.
Oilink, a Unioil sister firm, was found guilty of undervaluing the imported oil on board the m/t Port Louis, to 12,657.41 metric tons from 26,508.50 metric tons, on Feb. 19.
Trisolid failed to account for 138 million liters of diesel oil worth P3 billion being transported by the tanker m/t BMI Patricia, which was seized by the Coast Guard on the Pasig River in January.
Officials say oil smuggling accounts for at least 50 percent—or P40 billion—of the total revenue losses from all forms of smuggling.
Villar vowed to intensify his agency’s operation against oil smugglers to offset possible tax losses once a Senate proposal to suspend the collection of expanded value added tax on petroleum products becomes a law.
“In the event the Senate approves the proposal in a bid to ease the impact of [rising oil prices], [we will] make it a point that oil smuggling will simply be a dream,” Villar said.
“If we can realize the target of P2 billion [in] additional revenue from oil imports provided we stop smuggling, then the government would somehow find relief in a costly move to ease the plight of citizens due to the high prices of petroleum products.” Joyce Pangco Pañares - Manila Standard Today
Group head Antonio Villar Jr. said Oilink International Corp., PTT Philippines Corp., Tri-Solid Movers Services Inc., and Mawab and Andan Resources were not out of the woods yet despite paying P482 million in back taxes and penalties.
“They still have to pay another P400 million to erase the stigma of having been caught defrauding the government through the technical smuggling of fuel,” Villar said.
“Furthermore, if the oil firms are found guilty of defrauding the government of duties and taxes, the determined revenue loss of P482 million will be multiplied by eight, which means [they] will have to pay a total of P3.8 billion,” he said.
The group earlier pressed criminal charges against eight Oilink officers and four Customs officials following the smuggling of oil from the Subic Bay Free Port early this year.
Oilink, a Unioil sister firm, was found guilty of undervaluing the imported oil on board the m/t Port Louis, to 12,657.41 metric tons from 26,508.50 metric tons, on Feb. 19.
Trisolid failed to account for 138 million liters of diesel oil worth P3 billion being transported by the tanker m/t BMI Patricia, which was seized by the Coast Guard on the Pasig River in January.
Officials say oil smuggling accounts for at least 50 percent—or P40 billion—of the total revenue losses from all forms of smuggling.
Villar vowed to intensify his agency’s operation against oil smugglers to offset possible tax losses once a Senate proposal to suspend the collection of expanded value added tax on petroleum products becomes a law.
“In the event the Senate approves the proposal in a bid to ease the impact of [rising oil prices], [we will] make it a point that oil smuggling will simply be a dream,” Villar said.
“If we can realize the target of P2 billion [in] additional revenue from oil imports provided we stop smuggling, then the government would somehow find relief in a costly move to ease the plight of citizens due to the high prices of petroleum products.” Joyce Pangco Pañares - Manila Standard Today
posted by OlongapoCity Zambales at
8:50 AM
1 Comments:
Are we also running after the customers and buyers of the smuggled oil? I am sure there are customers who know that the oil they bought from Oilink, PTT, and Tri Solid are smuggled goods. Can we check where these smuggled oil products were sold and used? thanks
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Anonymous, at 1/05/2008 12:34 AM
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