The Department of Finance (DoF) on Friday said the proposal to adopt a fuel marking and monitoring system has earned the support of various groups to prevent oil smuggling and complement efforts at improving the collection of fuel excise taxes.
In a statement, the DoF noted the statement of Dow Chemical, SICPA-Global Fluids International (SICPA-GFI), Authentix and United Color Manufacturing Inc. in a recent hearing of the House ways and means committee.
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