rr04_04 - REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE...

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1 REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE March 22, 2004 REVENUE REGULATIONS NO. 4-2004 SUBJECT : Supplementing the Rules on the Advance Payment of Value Added Tax on Sale of Refined Sugar as Provided for in Revenue Regulations 2 -2004. TO : All Internal Revenue Officers and Others Concerned. ----------------------------------------------------------------------------------------------------- SECTION 1. Background. – 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), the Bureau of Internal Revenue issued and implemented on January 2, 2004 Revenue Regulations 2–2004 which among others (a) prescribed 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 cooperatives, and (b) redefined the term “refined sugar”. Said Revenue Regulation continued the recognition that cooperatives are exempt from value added tax, and gave the cooperatives the responsibility of ensuring that the advance VAT on refined sugar is paid for by their buyer/transferee. This
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This note was uploaded on 12/07/2011 for the course TAXATION 101 taught by Professor Atty.phua during the Spring '11 term at University of the Philippines Diliman.

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rr04_04 - REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE...

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