October 12, 2015
REVENUE REGULATIONS NO. 13-15
| SUBJECT | : | Amending Further the Provisions of Section 2.57.2 of Revenue Regulations (RR) No. 2-98, as Amended by RR No. 7-2015 |
| TO | : | All Internal Revenue Officers and Others Concerned |
SECTION 1. Scope. — Pursuant to the provisions of Section 244, in relation to Section 57 (B) of the National Internal Revenue Code (NIRC) of 1997, as amended, these Regulations are hereby promulgated to further amend the pertinent provisions of Section 2.57.2 of Revenue Regulations (RR) No. 2-98, as last amended by RR No. 7-2015.
SECTION 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, . . .:
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...
