Annual Information Return

Annual Information Return, not SLAN for Taxpayers?

@ageofbrillig notes that “@randomsalt I read RR2-2011. What’s required is not SALN, but an Annual Information Return. Sample AIR (PDF):

Sun Star writes:

“An individual whose annual taxable income exceeds P500T are also now required to file an AIR provided that those deriving compensation concurrently from two or more employers at any time during the taxable year shall file an ITR.

Individuals, estates and trusts whose sole income has been subjected to final withholding tax under Section 57 of the Tax Code, with aggregate final tax withheld exceeding P125T annually, whether or not remitted to the BIR, are also told to file an AIR, as well as those whose sole income is exempt from income tax and whose total annual income exempted exceeds P500T.

“The term ‘individual whose compensation income has been subjected to final withholding tax’ shall include aliens or Filipino citizens occupying the same positions as the alien employees who are employed by regional or area operating headquarters, offshore banking units, petroleum service contractors and sub-contractors…including those subject to fringe benefit tax,” RR2 added.”

Revenue Regulation 2-2011, “Filing Income Tax Return and/or Annual Information Return Report for Individuals, Estates and Trusts.”

Sample of Annual Information Return is here.