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    Income Payee's Sworn

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    Estopacia Robles Jenny
    This document is a sworn declaration from an individual taxpayer declaring their gross receipts and income tax obligations. It provides options to pay graduated income tax rates or an 8% flat tax on gross receipts. It also details requirements for withholding taxes if gross receipts exceed 250,000 pesos.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Income Payee's Sworn

    Uploaded by

    Estopacia Robles Jenny
    18 views1 page
    This document is a sworn declaration from an individual taxpayer declaring their gross receipts and income tax obligations. It provides options to pay graduated income tax rates or an 8% flat tax on gross receipts. It also details requirements for withholding taxes if gross receipts exceed 250,000 pesos.

    Original Title

    INCOME PAYEE'S SWORN

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    This document is a sworn declaration from an individual taxpayer declaring their gross receipts and income tax obligations. It provides options to pay graduated income tax rates or an 8% flat tax on gross receipts. It also details requirements for withholding taxes if gross receipts exceed 250,000 pesos.

    Copyright:

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

    Income Payee's Sworn

    Uploaded by

    Estopacia Robles Jenny
    This document is a sworn declaration from an individual taxpayer declaring their gross receipts and income tax obligations. It provides options to pay graduated income tax rates or an 8% flat tax on gross receipts. It also details requirements for withholding taxes if gross receipts exceed 250,000 pesos.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    INCOME PAYEE’S SWORN DECLERATION OF GROSS RECEIPTS/SALES

    (For Self-Employed and/or Engage in the practice of Profession with Lone income Payor)

    I, __________________________________________,_____________________,
    (Name) Citizenship
    of legal age, single/ married to
    ____________________________________ permanently residing at__________________________________________
    (Address)
    (Name of Spouse)
    ______________________________________________________________________________________________ with
    Taxpayer Identification Number (TIN) _______________________, after having been duly sworn in accordance with law
    hereby depose and state:

    1. That I derived my _____________ income only from ___________________________________


    (Name of loan Payor)
    with Taxpayer
    Identification Number ____________and business address at_________________
    ______________________________________________________________________________;
    2. That for the current year ______, my gross receipts will not exceed Two hundred Fifty Thousand Pesos
    (₱250,000.00) and that I am registered as a non-VAT taxpayer; that whatever is the amount of income received,
    I will comply with the requirement to file my Income Tax Return on the prescribed due date. For this purpose, I
    opt to avail of either one of the following:
     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 0% income tax, thus, not subject
    to creditable withholding tax; subject to percentage tax, if applicable, and will file the required
    percentage tax returns or subject to withholding percentage tax, in case of government money
    payments,
     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 , no withholding tax shall be made;
    3. That based on my selection above, if my gross sales/receipts and other non-operating income exceeds
    ₱250,000.00 but not over ₱3,000,000.00, my afore-stated lone income payor shall automatically withhold the
    prescribed rate of withholding tax:
    a. In case of Graduated Income Tax Rates, I acknowledge that aside from income tax, I am subject to
    business tax (Percentage Tax, if applicable) and creditable withholding of income in excess of
    ₱250,000.00, and business tax withholding, if any, are applicable on the entire income payment; OR
    b. In case of Eight Percent (8%) income tax rate, I acknowledge that I am only subject to income tax and
    thus, to the creditable withholding income tax in excess of 250,000.00;
    4. That I duly execute this SWORD DECLERATION in compliance with the requirement prescribed under Section
    ____ of Revenue Regulation No. _______;
    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

    Signature over Printed Name of Individual Taxpayer

    SUBSCRIBED AND SWORN to before me this ____day of __________, 20____in____________________________.


    Applicant exhibited to me his/her_________________ issued at _________________on_________________________.

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

    Affix ₱30.00
    Documentary
    Stamp Tax

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

    Date Received: __________________ Received by:


    (MM-DD-YYYY-00001)
    Signature over Printed Name of the Withholding Agent/Payor or Authorized Officer

    Designation/Position of Authorized Officer

    Name of Withholding Agent/Lone Payer

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