July 25, 2018
REVENUE REGULATIONS NO. 20-18
| SUBJECT | : | Prescribing the Implementing Rules and Guidelines on the Imposition of Excise Tax on Sweetened Beverages Pursuant to Section 47 of Republic Act No. 10963, Otherwise Known as the "Tax Reform for Acceleration and Inclusion (TRAIN) Law" |
| TO | : | All Internal Revenue Officers and Others Concerned |
SECTION 1. Scope. — Pursuant to Section 244 of the National Internal Revenue Code (NIRC), as amended, and Section 84 of Republic Act (R.A.) No. 10963, otherwise known as the "Tax Reform for Acceleration and Inclusion (TRAIN) Law," these regulations are hereby promulgated to implement Section 150-B of the NIRC, as amended, on the excise tax on sweetened beverages, as introduced by Section 47 of the TRAIN Law. HTcADC
SECTION 2. Definition of Terms. — For purposes of these Regulations and for a more effective enforcement and collection of excise taxes, the following words and phrases shall have the meaning indicated below:
a. "ACT" — shall refer to Republic Act (R.A.) No. 10963 otherwise known as the "Tax Reform for Acceleration and Inclusion (TRAIN) Law";
b. SWEETENED...
