Forfeited and seized goods

5 Valuable Lessons for Professionals Insights from Forfeited and Seized 
Goods

In 2026, the industry was left reeling as forfeited and seized goods shed l
light on crucial lessons for professionals. As we reflect on these events, 
it's essential to distill the key takeaways that can inform best practices 
moving forward.

Lesson 1 Tax Exemption Rules are Crucial to Understand

When it comes to excise taxes on petroleum products, understanding the rule
rules is vital. Recent events have underscored the importance of grasping t
the nuances of tax exemption laws and international agreements. Even with s
suspension of excise taxes, certain sales remain exempt by express provisio
provision of law.

Lesson 2 Proving Foreign Registry is Essential for International Carrier
Carriers

International carriers seeking to claim exemption must provide proof of for
foreign registry or authority to operate international flights. Furthermore
Furthermore, they must demonstrate compliance with regulations regarding st
storage in bonded tanks and disposal procedures.

Lesson 3 Pay Excise Taxes First, Seek Refund Later - A Complex but Essen
Essential Process

Suppliers selling petroleum products to exempt entities still need to pay e
excise taxes upfront before seeking a refund or tax credit. While this proc
process can be complex, it is crucial for compliance purposes.

Lesson 4 The Refund Mechanism for Suppliers

The Create More Law introduced a refund mechanism for suppliers who paid ex
excise taxes on exempt sales. To access this refund, suppliers must file a 
claim within two years of the payment date, submit complete documentation, 
and follow the Commissioner of Internal Revenue's decision.

Lesson 5 Follow BIR Guidelines for Refund Claims

To successfully process refund claims for excise tax on petroleum products,
products, suppliers must adhere to the Bureau of Internal Revenue's guideli
guidelines. This includes filing quarterly applications with supporting doc
documents and submitting a sworn statement.

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Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.