Summary
RMC No. 23-2020, issued March 4, 2020, circularizes the Consolidated Price of Sugar at Millsite for January 2020, drawn from Operations Memorandum (OM) Nos. 6-2020, 8-2020, 9-2020 and 11-2020.
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Key points
- Consolidated schedule. The consolidated schedule contains only current-year prices. The weekly Price of Sugar at Millsite issued by the Sugar Regulatory Administration compares previous-year and current-year prices.
- Purpose. The prices are used to impose the one percent (1%) Expanded Withholding Tax on sugar under Revenue Regulations (RR) No. 2-98, as amended by RR No. 11-2014.
Deadlines and effectivity
- Prices for January 2020
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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