11 February 2014
The Commissioner of Internal Revenue (“CIR”) has issued Revenue Memorandum Circular (“RMC”) No. 9-2014 dated 11 February 2014 to amend RMC No. 57-2011 to make optional to individuals the disclosure of their passive income subject to final tax [Supplemental Information] in BIR Forms No. 1700 and 1701 for calendar year 2013, due for filing on or before 15 April 2014. However, the said information has to be mandatorily disclosed by individual taxpayers for calendar year 2014.
Individual taxpayers are given the option to use either of the following for identification purposes in their income tax returns:
This Circular is effective immediately.