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Revenue Memorandum Circular · RMC

RMC No. 75-2022

To circularize the Consolidated Price of Sugar at Millsite for the month of April 2022 and clarify that the consolidated schedule contains only current-year prices for purposes of imposing the 1% Expanded Withholding Tax on sugar.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
75
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 75-2022, issued May 26, 2022, circularizes the Consolidated Price of Sugar at Millsite for April 2022, as contained in Operations Memorandum (OM) Nos. 32-2022, 37-2022, 38-2022 and 40-2022. It explains that while the weekly Price of Sugar at Millsite issued by the Sugar Regulatory Administration shows comparative prices between the previous and current year, the consolidated schedule in the weekly OMs contains only current-year prices, for use in imposing the one percent (1%) Expanded Withholding Tax on sugar under RR No. 2-98, as amended by RR No. 11-2014.