News by Region

DEPUTY COMMISSIONER DY BUCO TO DISCUSS PHILIPPINES’…

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 […]

Probe Team Finds Fuel Worth Millions Being…

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 […]

OGRA’s concerns about profit margin deregulation addressed…

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 […]

Zimra says August tax collections beat target…

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 […]

Jailed Indian fraudster ordered to pay stolen…

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, […]

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Illegal Fuel Importation: Government wages war on…

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 […]