January 26, 2015
Sugaronline
The Bureau of Internal Revenue is finalizing its memorandum circular clarifying the revenue regulation on the 1% withholding tax on raw sugar, Sugar Regulatory Administrator Ma. Regina Martin said, according to the Philippines' Visayan Daily Star newspaper.
SRA has been endorsing and discussing with the BIR the complaints of the different stakeholdes of the sugarcane industry, she added.
Clarification has been sought on how the tax on the poor small planters will be withheld when they do not have TIN numbers, plus their income may not be enough to use the withheld 1%, she said earlier.
She said clarification has also been sought on the exemption of cooperatives.
Reference: http://sugaronline.com/website_contents/view/1239118#sthash.JZ4FoNhn.dpuf