RMC No. 59-2007: Clarifies the effect of the suspension of RR No. 6-2007, otherwise known as the “Consolidated Regulations on Advance Value-Added Tax on the Sale of Refined Sugar, Amending and/or Revoking All Revenue Issuances Issued to this Effect and for Other Related Purposes”

Key points

1. Rules that apply during suspension. The policies and procedures on advance payment of VAT on refined sugar sales revert to RR No. 29-2002, as amended by RR Nos. 2-2004, 4-2004, 16-2005 and 4-2007. They apply until an improved version of RR No. 6-2007 is issued.
2. Rate of advance VAT. The advance VAT is paid at 12% under RA No. 9337, as amended, as implemented by RR No. 16-2005, as amended by RR Nos. 2-2007 and 4-2007.

Who is affected

• Sellers of refined sugar

Deadlines and effectivity

• Until an improved version of RR No. 6-2007 is issued