Inspections set for possible profiteering by fuel stations, depots
THE Department of Energy (DoE) on Wednesday said it has deployed inspectors to randomly check the inventory of fuel stations and depots in line with the implementation of the oil excise tax this year.
DoE Secretary Alfonso G. Cusi warned that those pricing fuel based on the new tax on inventory taxed at the old rates are violating the law.
“Violators may be administratively subjected to the cancellation of their Certificates of Compliance (COC),” he said in a statement.
DoE’s inspection will verify whether the excise tax under the Tax Reform for Acceleration and Inclusion Act (TRAIN) is properly imposed.
It has told oil companies to submit a daily summary of stock withdrawals starting Jan. 1, 2018 until the depletion of the declared inventory as of end-2017. A team of inspectors from the department’s oil industry management bureau will do the random checking.
Mr. Cusi said criminal cases such as estafa and profiteering may be filed in court for violations of the Oil Regulation Law and the Revised Penal Code. The DoE will also endorse the violators to the Bureau of Internal Revenue for a special audit, he added.
He said the inspection procedure starts with inspectors introducing themselves to fuel stations or depots and declaring their intent to inspect the inventory.
Inspectors will use an “inspection report form,” which indicates punitive measures in case of violation. They will use the inventory data as of Dec. 31, 2017 and stock withdrawals to determine if the new excise tax under TRAIN is applied only to new supply.
Upon accomplishment of the inspection report form, it should be signed by the DoE Inspector and conformed by the authorized representative of the retail station or depot. —