Revenue Memorandum Circular No. 74-2023 prescribes the standard templates for the “Sworn Statement” and “Sworn Declaration” that shall be submitted by the domestic corporation as an attachment to the Annual Income Tax Return (AITR) pertaining to the taxable year when the dividend is received and to the AITR for the immediately succeeding taxable year, respectively. The required sworn statement/declaration is part of the requirements for availing the income tax exemption of foreign-sourced dividends pursuant to Section 27 (D)(4) of the National Internal Revenue Code, as amended.
Considering that the prescribed templates pursuant to RR No. 5-2023 only include dividend income received from a single source, Annex “A” and “B” of this Circular now provide for the standard templates in case the domestic corporation received multiple foreign-sourced dividends qualified for the income tax exemption pursuant to the aforesaid provision.