Summary
RMC No. 50-2019 circularizes the Consolidated Price of Sugar at Millsite for March 2019, as contained in Operations Memorandum (OM) Nos. 2019-03-03, 2019-04-02, 2019-04-03, 2019-04-05 and 2019-04-06.
Key points
- Consolidated schedule. The weekly Price of Sugar at Millsite from the Sugar Regulatory Administration compares prices of the previous year and the current year. The consolidated schedule in the weekly OMs shows only the current year.
- Purpose. The prices are used to impose the one percent (1%) Expanded Withholding Tax on sugar under Revenue Regulations 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
- Issued April 30, 2019
- Prices cover the month of March 2019
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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