RMC No. 70-2017 — Circularizes the Consolidated Price of Sugar at Millsite for the month of July 2017 Digest | Full Text | Annex

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

August 10, 2017

REVENUE MEMORANDUM CIRCULAR NO. 70-2017

SUBJECT Consolidated Price of Sugar at Millsite for the Month of July 2017

TO All Internal Revenue Officers and Others Concerned

This Circular is hereby issued in order to consolidate the weekly issued Operations Memoranda (OM), more particuiarly 0M Nos. 2017-07-02, 2017-07-04, 2017-08-01, 2017-08. 02 and 2017-08-03, for the month of July circularizing the weekly Price of Sugar at Millsite issued by the Sugar Regulatory Administration (SRA), pursuant to Revenue Regulations (RR) No. 13-2015.

While the SRA-issued weekly Price of Sugar at Millsite reflects the comparative prices of sugar between the previous year and current year, the consolidated schedule (Annex "A") on the said weekly OMs contains only that of the current year for purposes of imposing the one percent (1%) expanded withholding tax on sugar prescribed under the provisions of RR No. 2-98, as amended by RR No. 11-2014.

All revenue officials, employees, and others concerned are hereby enjoined to give this Circular as wide a publicity as possible.

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CAESAR R. DULAY

J-5 BUREAU OF HNTERNAL REENE RECORIS MGI DIVISRN AUG 2 2 2017 G484.M Commissioner of Internal Revenue 008954

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