WANCHAI, HONG KONG, March 2, 2018 /EINPresswire.com/ — The Philippines’ new fuel marking and monitoring system is expected to launch in the local downstream oil industry in the second half of 2018. The program is part of a sustained effort to combat rampant fuel smuggling and misdeclaration of petroleum products, estimated to be costing the […]
Some MPs accuse government officials and mafia members of being involved in the illicit oil trade. A probe team from Afghanistan’s parliament on Wednesday reported that over 30 fuel companies have smuggled millions of dollars worth of oil into the country under the pretext of delivering it to foreign forces, thereby avoiding import tax. The […]
Reuters Staff 2 Min Read (Recasts lead, adds detail) MILAN, Nov 22 (Reuters) – Italy’s Eni said on Wednesday its refineries in Italy were at risk of shutdown after Italian tax police seized assets as part of a probe into alleged tax evasion. The state-controlled oil major said in a statement a judge had ordered […]
October 13, 2017 Staff Reporter Business 0 HARARE,– Zimbabwe’s tax agency says it expects to surpass the $3,7 billion revenue target by at least 15 percent, as it ups collection efforts. In the half year to June 30, revenue inflows amounted to $1.7 billion which was 8 percent above target and 974 percent higher than […]
Posted: Tuesday, October 3, 2017. 4:46 p.m. CST. By BBN Staff: The Belize Chamber of Commerce and Industry (BCCI), in a release this evening, welcomed Prime Minister Dean Barrow’s recent public assurance that fuel prices at the pump will drop by mid-October with the arrival of the next shipment. “With taxes comprising up to 43% […]
A man refuels his car at a petrol station. PHOTO: REUTERS ISLAMABAD: The Petroleum Division has said that it has addressed concerns of the Oil and Gas Regulatory Authority (Ogra) and Planning Division about planned deregulation of margins on high-speed diesel (HSD) sales for oil marketing companies (OMCs) and dealers. The Planning Division and Ogra had […]
In the first half of this year, the 15 largest state-owned Warsaw Stock Exchange-listed companies posted a combined profit of almost PLN 15 billion (EUR 3.5 bn, USD 4.2 bn), more than twice as much as a year earlier and almost three times more than in the first half of 2014 and 2015, according to […]
September 5, 2017 Staff Reporter Business 0 HARARE,– Zimbabwe’s tax agency on Tuesday said it surpassed its August revenue target of $267. 66 million by 15 percent due to automation and an anti-corruption drive. Zimbabwe’s national budget is entirely funded by taxes and borrowings from local banks because it cannot borrow from foreign financial institutions […]
An Indian-origin petrol station owner who was jailed last year for selling illegal diesel has been ordered to pay stolen taxes amounting to nearly 133,660 pounds to the UK’s tax department. Nawaz Jan-Virmani, who was sentenced to 16 months in jail in February last year, was told by Preston Crown Court in Lancashire, north-west England, […]
Government has declared war on ‘cartel’ that allegedly controls illegal fuel importation and smuggling in Ghana. Government is putting drastic measures in place to pace down activities of purported oil smugglers in the country. Allegations have been made that some influential business tycoons have formed a cartel that smuggles oil to neighboring landlocked countries by […]