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Philippine Standard Time:
14 July 2024, 02:53 AM

BOC-Legazpi Welcomes First-Ever Fuel Importation

May 10, 2023

The Bureau of Customs-Legazpi has welcomed its first-ever fuel importation, which arrived aboard MV Peninsula XI at the Port of Pasacao, Camarines Sur on May 8, 2023. The vessel is carrying 5,076,234 liters of Gasoil consigned to Jetti Petroleum Inc.

This development was made possible through the initiative of Commissioner Bienvenido Rubio under the directive of President Ferdinand Marcos Jr., and the proactive approach of the Port of Legazpi, which became an authorized port of discharge for gasoline, diesel, and kerosene arriving in bulk. This has paved the way for more companies to invest in Bicol and venture into importation.

With this monumental achievement, the port is confident that it will hit and surpass its monthly revenue collection in the coming months and years.

The fuel is set to be marked in accordance with the Fuel Marking Program, mandated under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, to curb smuggling and misdeclaration of petroleum products in the country and increase the collection from taxable imported and locally refined petroleum products.

The port is hopeful that the inclusion of Collection District V as an authorized Port of Discharge will encourage more investors to import fuel products.#

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