Summary
RMC No. 8-2022 circularizes the Consolidated Price of Sugar at Millsite for October 2021, taken from Operations Memorandum (OM) Nos. 77-2021, 78-2021, 79-2021, 83-2021 and 84-2021.
Key points
- Source of the consolidated price. The consolidated schedule comes from the weekly OMs listed in the circular. The Sugar Regulatory Administration’s weekly price compares the previous and current year, but the consolidated schedule shows the current year only.
- Purpose of the schedule. The schedule is used for 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
- Covers the month of October 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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