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    Sworn Declaration - INCOME PAYEE

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    kforteza.jto
    This document is a sworn declaration by an individual taxpayer of their gross receipts/sales as self-employed or engaged in a profession with multiple income payors. It details that the taxpayer's income is below ₱3,000,000 and they can opt for either the graduated income tax rates or a flat 8% income tax rate on gross receipts. It further states that if their income exceeds ₱3,000,000 then the graduated tax rates will automatically apply along with any applicable business taxes. The taxpayer declares this is being filed truthfully and in compliance with revenue regulations.

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    Sworn Declaration - INCOME PAYEE

    Uploaded by

    kforteza.jto
    35 views1 page
    This document is a sworn declaration by an individual taxpayer of their gross receipts/sales as self-employed or engaged in a profession with multiple income payors. It details that the taxpayer's income is below ₱3,000,000 and they can opt for either the graduated income tax rates or a flat 8% income tax rate on gross receipts. It further states that if their income exceeds ₱3,000,000 then the graduated tax rates will automatically apply along with any applicable business taxes. The taxpayer declares this is being filed truthfully and in compliance with revenue regulations.

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    Sworn Declaration_INCOME PAYEE

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    This document is a sworn declaration by an individual taxpayer of their gross receipts/sales as self-employed or engaged in a profession with multiple income payors. It details that the taxpayer's income is below ₱3,000,000 and they can opt for either the graduated income tax rates or a flat 8% income tax rate on gross receipts. It further states that if their income exceeds ₱3,000,000 then the graduated tax rates will automatically apply along with any applicable business taxes. The taxpayer declares this is being filed truthfully and in compliance with revenue regulations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    35 views1 page

    Sworn Declaration - INCOME PAYEE

    Uploaded by

    kforteza.jto
    This document is a sworn declaration by an individual taxpayer of their gross receipts/sales as self-employed or engaged in a profession with multiple income payors. It details that the taxpayer's income is below ₱3,000,000 and they can opt for either the graduated income tax rates or a flat 8% income tax rate on gross receipts. It further states that if their income exceeds ₱3,000,000 then the graduated tax rates will automatically apply along with any applicable business taxes. The taxpayer declares this is being filed truthfully and in compliance with revenue regulations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    INCOME PAYEE’S SWORN DECLARATION OF GROSS RECEIPTS/SALES

    (For Self-Employed and/or Engaged in the Practice of Profession with Several Income Payors)

    I, __________________________________, Filipino, of legal age, single/married to ________________


    permanently residing at ___________________________________________________________________________________
    with Taxpayer Identification Number (TIN) ______________________, after having been duly sworn in accordance with law
    hereby depose and state that:

    1. That I derived my ___________________ income from various income payors, and my registered business address is
    at ___________________________________________________________________________________________;

    2. That for the current year ________, my gross receipts will not exceed Three Million Pesos (₱3,000,000) and that I am a
    non- VAT registered taxpayer. For this purpose, I opt to avail of either one of the income tax regime as follows:

    o Graduated Income Tax Rates under Section 24(A)(2)(a) of the Tax Code, as amended, based on the taxable
    income. With this selection, I acknowledge that I am subject to creditable withholding tax at the prescribed
    rate; subject to percentage tax and will file the required percentage tax returns or subject to withholding
    percentage tax, in case of government money payments.

    o Eight Percent (8%) income tax rate under Section 24(A)(2)(b) of the Tax Code, as amended, based on gross
    receipts/sales and other non-operating income - with this selection, I understand that this is in lieu of the
    graduated income tax rates and the Percentage Tax under Section 116 of the Tax Code, as amended; thus,
    only the creditable income withholding tax based on the prescribed rate shall be made;

    3. That based on my selection above, if my gross sales/receipts and other non-operating income exceeds ₱3,000,000, my
    income payor /withholding agents shall automatically withhold the higher rate of withholding of ten percent (10%) in
    the case of income items with two (2) prescribed creditable withholding tax rate depending on the total amount of
    income payment received:

    o In case of Graduated Income Tax Rates, I acknowledge that aside from income tax, I am subject to business
    tax (VAT) unless expressly exempted; and consequently subject to withholding of income. Moreover, if the
    payor is a government entity, business tax withholding applies; OR

    o In case of Eight Percent (8%) income tax rate, I acknowledge that I am no longer qualified to avail of this
    option since my income exceeds ₱3,000,000 and thus, the graduated income tax rates above shall
    automatically apply together with the consequent liability for business tax/es;

    4. That I duly execute this SWORN DECLARATION in compliance with the requirement prescribed under Section of
    Revenue Regulations No. 11-2008;

    5. That I declare, under the penalties of perjury, that this declaration has been made in good faith, and to the best of my
    knowledge and belief to be true and correct.

    IN WITNESS WHEREOF, I have hereunto set my hand this ___ day of ____________, 20___ at _________________,
    Philippines.

    ___________________________________
    Name and Signature of Individual Taxpayer

    SUBSCRIBED AND SWORN to before me this _____ day of ____________, 20___ in _______________________,
    Applicant exhibited to me his/her ___________________________issued at _______________________ on _______________.

    Doc. No.:
    Page No.:
    Book No.:
    Series of NOTARY PUBLIC

    Affix ₱30.00 Documentary Stamp Tax

    (To be filled-out by the withholding agent/lone payor)

    Date Received ___________________

    Received by: _________________________________________________________


    Signature over Printed Name of the Withholding Agent/Payor or Authorized Officer
    _________________________________________________________
    Designation/Position of Authorized Officer
    __________________________________________________________
    Name of Withholding Agent/Lone Payor

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