REVENUE MEMORANDUM CIRCULAR NO. 120-2019 issued on November 20, 2019 circularizes the Consolidated Price of Sugar at Millsite for the month of October 2019 contained in Operations Memorandum (OM) Nos. 26-2019, 28-2019, 29-2019 and 30-2019.

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 the provisions of Revenue Regulations (RR) No. 2-98, as amended by RR No. 11-2014.