RMC No. 29-2017 — Circularizes the Consolidated Price of Sugar at Millsite for the month of February 2017

REPUBLIC OF THE PHILIPP INES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

March 23, 2017

REVENUE MEMORANDUM CIRCULAR NO. a9-3D7

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

TO All Interna! Revenue Officers and Others Concerned

This Circular is hereby issued in order to consolidate the weekly issued Operations Memoranda (OM), more particularly OM Nos. 2017-02-07, 2017-03-01, 2017-03-03, and 2017-03-04, for the month of February 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 Milisite 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

CAESAR R. DULAY ommissioner Of internal Revenue

004654

BUREAU OF INTEENAL RENENUE YECODS MGTDVISTON

I:2OAM MAR 3 0 2017: Uh9A

RECFIV