Summary
RMC No. 48-2021 circularizes the consolidated Price of Sugar at Millsite for February 2021, as contained in Operations Memorandum (OM) Nos. 14-2021, 15-2021, 16-2021 and 18-2021.
Key points
- Consolidated schedule. The Sugar Regulatory Administration’s weekly price shows a comparison of the previous and current year. The consolidated schedule in the weekly OMs shows only the current year.
- Purpose. The consolidated 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.
Who is affected
- Sugar transactions subject to the 1% Expanded Withholding Tax
Deadlines and effectivity
- Prices cover the month of February 2021
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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