RMC No. 16-2018 — Circularizes the Consolidated Price of Sugar at Millsite for the month of January 2018

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City LCU MAR n1 6 2018 CF INTERNAL RTATFID Us 1:40 wm GT DIVS_N

RECEIVED February 26, 2018

REVENUE MEMORANDUM CIRCULAR NO. _ 16 - 20/2

SUBJECT : Consolidated Price of Sugar at Millisite for the Month of January 2018

TO : All Internal Revenue Officers and Others Concerned

This Circular is hereby issued in order to consolidate the weekly issued Operations Memoranda (0M), more particularly OM Nos. 2017-01-11, 2018-02-01, 2018-02-02, and 2018-02-04, for the month of January 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 weekiy 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.

188ame

CAESAR R. DULAY

J- 5 Commissioner of Internal Revenue 014009