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1 REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE January 2, 2004 REVENUE REGULATIONS NO. 2-2004 SUBJECT : Further Enhancing the Rules on the Advance Payment of Value Added Tax on Sale of Refined Sugar, Amending Revenue Regulations No. 7-89 and 29-2002 TO : All Internal Revenue Officers and Others Concerned. ----------------------------------------------------------------------------------------------------- SECTION 1. Scope. – Pursuant to the provisions of Section 6 and 244, in relation to Sections 106, 109, 110, and 111(B)(1) all of the National Internal Revenue Code of 1997 (Code), these regulations are hereby promulgated (a) to prescribe the updated policies and procedures for the advance payment of value added tax (VAT) on the sale of refined sugar, including those made by a duly registered agricultural cooperative, and (b) to provide for the re-definition of the term “refined sugar”. SECTION 2. Definition of terms. – Section 2 of RR 29-2002 is hereby amended to read as follows: “(a) The term “refined sugar” refers to sugar whose content of sucrose by weight, in the dry state, corresponds to a polarimeter reading of 99.5 ° and above. Cane sugar produced from the following shall be conclusively presumed, for internal revenue purposes, to be refined sugar: (1) product of a refining process, (2) products of a sugar refinery, or (3) product of a production line of a sugar mill accredited by the Bureau of Internal Revenue to to be producing and/or capable of producing sugar with polarimeter reading of 99.5 ° and above, and for which quedan issued therefore and verified to by the Sugar Regulatory
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