Submission of Sworn Declaration of Inventory by all Gasoline Stations
(Revenue Memorandum Circular No. 02-2020, January 03, 2020)
This Tax Alert is issued to inform all concerned on the additional submission required for all gasoline stations in relation to the BIR’s Fuel Marking Program.
Pursuant to RMC No. 02-2020, all gasoline stations are required to submit a sworn declaration of inventory of diesel, gasoline and kerosene as of December 31, 2019 identified per branch, specifying the volume and product description, among others. The report should also state whether the inventory has been marked or not.
The sworn declaration statement of inventory should be submitted to the Revenue District Office/Large Taxpayers Division where the principal place of business is registered on or before January 15, 2020.
See link below for the BIR template of the report.