Further Amending Revenue Memorandum Circular (RMC) No. 57-2011, as Amended by RMC Nos. 21-2013, 9-2014 and 13-2015, Entitled "Revised Forms No. 1700, 1701, and 1702"

April 1, 2016 REVENUE MEMORANDUM CIRCULAR NO. 041-16 SUBJECT : Further Amending Revenue Memorandum Circular (RMC) No. 57-2011, as Amended by RMC Nos. 21-2 01 3, 9-2 01 4 and 13-2 01 5, Entitled "Revised Forms No. 1700, 1701, and 1702" TO : All Internal Revenue Officials, Employees and Others Concerned The first and second paragraphs of RMC No. 57-2011 , as amended by RMC Nos. 21-2013 , 9-2014 and 13-2015 , are hereby further amended to read as follows: "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 Form Nos. 1700 and 1701 optional on the part of the taxpayer for income tax filing covering and starting with calendar year 2015 , due for filing on or before April 15, 2016 , . . . . Individual income tax filers using Forms No. 1700 and 1701 are however advised that for income tax filing covering and starting with calendar year 2016 , the disclosures required under the Supplemental Information portion of the said forms will be mandatory. Thus, the taxpayers are advised to demand from their payors, and properly document their BIR Form No. 2307 and other pieces of evidence for final taxes withheld. However, said taxpayers, specially those engage in business, should properly receipt and book all their income, whether they are subject to final withholding tax or whether the income is tax-exempt. " All other circulars and revenue issuances inconsistent herewith are hereby amended, modified or revoked accordingly. All Revenue Officials are enjoined to give this Circular as wide a publicity as possible. This Circular shall take effect immediately. (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue