Definition of Raw Sugar for VAT Purposes
- The amendment specifically revises Section 2(b) of Revenue Regulations No. 13-08.
- Raw sugar is defined as sugar produced solely by a simple process converting sugar cane without requiring any mechanical or similar devices.
- Muscovado sugar is explicitly identified as the only type of raw sugar under this definition.
- The centrifugal process, used in producing other types of sugar, is not considered a simple process.
- Consequently, sugars produced through the centrifugal process are not exempt from Value Added Tax (VAT).
Repealing Clause
- All other rules and regulations, or parts thereof, that conflict with these amended provisions are repealed, amended, or modified accordingly.
Effectivity
- These amended regulations become effective fifteen (15) days after their publication in a newspaper of general circulation.
Key Officials
- The regulations are signed by Cesar V. Purisima, Secretary of Finance.
- Recommending approval is Kim S. Jacinto-Henares, Commissioner of Internal Revenue.