MANILA – Taxpayers are no longer required to disclose their passive incomes when they file income tax returns in April.
The Bureau of Internal Revenue on February 11 issued Revenue Memorandum Circular No. 9-2014, making optional the disclosure of information pertaining to taxpayers’ passive income for calendar year 2013.
“This circular further amends BIR Forms No. 1700, 1701 and 1702, previously amended under Revenue Memorandum Circular No. 40-2011. The amendment consists mainly in making the disclosure of Supplemental Information under BIR Forms No. 1700 and 1701 optional on the part of the taxpayer for income tax filing covering and starting with calendar year 2013, due for filing on or before April 15, 2014,” RMC 9-2014 read.
Passive income refers to gains made from holding financial and other assets.
The BIR however will require taxpayers to disclose information pertaining to their passive incomes for the succeeding calendar year, the returns for which are due on April 15, 2015.
In this regard, the bureau “advised taxpayers to demand from their payors, and properly document their BIR Form No. 2307 and other pieces of evidence for final taxes withheld.”
“Likewise, said taxpayers should properly receipt and book their tax-exempt income,” the circular read. –InterAksyon.com
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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