REVENUE MEMORANDUM CIRCULAR NO. 106-2020 issued on October 1, 2020 circularizes the Consolidated Price of Sugar at Millsite for the month of June 2020 contained in Operations Memorandum (OM) Nos. 54-2020, 55-2020, 56-2020 and 57-2020.
While the weekly Price of Sugar at Millsite issued by the Sugar Regulatory Administration reflects the comparative prices of sugar between the previous year and current year, the consolidated schedule 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 Revenue Regulations (RR) No. 2-98, as amended by RR No. 11-2014.