BIR Issues Templates for Domestic Corporations Receiving Multiple Foreign-Sourced Dividends Qualified for Tax Exemption

On 16 June 2023, the Bureau of Internal Revenue (“BIR”) issued Circular No. 74-2023 (“Circular”) which prescribed templates of the “Sworn Statement” and “Sworn Declaration” submitted by domestic corporations receiving multiple foreign-sourced dividends qualified for the income tax exemption pursuant to Section 27(D)(4) of the National Internal Revenue Code, as amended.

The templates of the “Sworn Statement” and “Sworn Declaration” are to be attached to the Annual Income Tax Return (“AITR”) pertaining to the taxable year when the dividends are received and to the AITR for the immediately succeeding taxable year, respectively.

Related to the Circular, the BIR previously issued Revenue Regulation No. 5-2023 which prescribed similar templates applying to dividend income received from a single source.

See the full text of BIR RMC No. 74-2023 here: RMC No. 74-2023.pdf (bir.gov.ph)

The template of the Sworn Statement can be found here: RMC No. 74-2023 Annex A.pdf (bir.gov.ph)The template of the Sworn Declaration can be found here: RMC No. 74-2023 Annex B.pdf (bir.gov.ph)