REVENUE MEMORANDUM CIRCULAR NO. 7-2022 issued on January 19, 2022 circularizes the Consolidated Price of Sugar at Millsite for the month of September 2021 contained in Operations Memorandum (OM) Nos. 70-2021, 71-2021, 72-2021 and 73-2021.
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.