REVENUE MEMORANDUM CIRCULAR NO. 149-2022 issued on November 25, 2022 circularizes the Consolidated Price of Sugar at Millsite for the month of October 2022 contained in Operations Memorandum (OM) Nos. 77-2022, 78-2022, 83-2022, 84-2022 and 85-2022.
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.