Shell has paid all the right taxes and strongly denies having engaged in any fraudulent activity, especially smuggling, as this is very much against its business principles…
Posted at 08/22/2011 8:36 PM
MANILA, Philippines – Pilipinas Shell Petroleum Corp. denied it has defrauded the government of billions of pesos of excise taxes for importing a blending component for unleaded gasoline.
In a statement, the oil importer said the product in question, alkalyte, is not a finished product and therefore not subject to an excise tax.
However, when the alkylate is further processed into finished unleaded gasoline product that is fit and ready for consumption, the finished product is subject to the payment of excise taxes before the same is released from Shells refinery. In other words, no excise tax is lost on the alkylate imports in question, it said. read more
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