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Revenue Memorandum Circular · RMC

RMC No. 85-2022

To circularize the Consolidated Price of Sugar at Millsite for the month of May 2022, as contained in Operations Memorandum (OM) Nos. 41-2022, 42-2022, 44-2022, 45-2022 and 48-2022.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
85
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 85-2022 (issued July 14, 2022) circularizes the Consolidated Price of Sugar at Millsite for the month of May 2022, as contained in Operations Memorandum (OM) Nos. 41-2022, 42-2022, 44-2022, 45-2022 and 48-2022. The circular explains that while the weekly Sugar Regulatory Administration (SRA) price releases show comparative prices between the previous year and current year, the consolidated schedule in the weekly OMs shows only current-year prices, because it is used for imposing the one percent (1%) Expanded Withholding Tax on sugar under RR No. 2-98, as amended by RR No. 11-2014.