Revenue Regulations No. 13-2015 has issued by the CIR of the BIR amending further the provisions of Section 2.57.2 of Revenue Regulations (RR) No. 2-98, as Amended by RR No. 7-2015 dated October 12, 2015.
The amendments is stated in the RR with details as follows:
SEC. 2. AMENDMENTS. - The pertinent provisions of Section 2.57.2 of RR No. 2-98, as amended by RR No. 7-2015, are hereby further amended to read as follows:
"(AA) Income payments on sugar. - On gross payments on purchases of sugar - One percent (1%)
1. Proprietors or operators of sugar mills/refineries on their mill share, xxx:
1.1 For locally produced raw cane sugar and raw sugar - the composite price, in metric tons, governing the specified crop year of raw cane sugar and raw sugar as reflected in one of the reports (Annex "A") under the weekly Final Sugar Production Bulletin duly issued by the Sugar Regulatory Administration (SRA) on the date of sale, or actual selling price, whichever is higher.
It shall be ensured that a copy of the weekly Final Sugar Production Bulletin be officially transmitted by the SRA to the Commissioner of Internal Revenue within twenty four (24) hours from the date of issuance thereof.
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All existing rules and regulations or parts thereof which are inconsistent with the provisions of these Regulations are hereby modified, amended, revoked or repealed accordingly.
The Regulations took effect fifteen (15) days immediately following publication in a newspaper of general circulation.
Please refer http://www.bir.gov.ph/images/bir_files/internal_communications_1/Full%20Text%20RR%202015/RR%20No.%2013-2015.pdf of the full text of RR No. 13-2015.
