Taxation Laws (compiled codal)
Section 13. Section 51 of the NIRC, as amended, is hereby further amended to read as follows:
"Sec. 51. Individual Returns -
"(A) x x x
"(1) x x x
"x x x
"(2) The following individuals shall not be required to file an income tax return:
"(a) An individual whose taxable income does not exceed Two hundred fifty thousand pesos (₱250,000) under Section 24(A)(2)(a): Provided, That a citizen of the Philippines and any alien individual engaged in business or practice of profession within the Philippines shall file an income tax return, regardless of the amount of gross income;
"x x x
"(5) The income tax return (ITR) shall consist of a maximum of four (4) pages in paper form or electronic form, and shall only contain the following information:
"(A) Personal profile and information;
"(B) Total gross sales, receipts or income from compensation for services rendered, conduct of trade or business or the exercise of a profession, except income subject to final tax as provided under this Code;
"(C) Allowable deductions under this Code;
"(D) Taxable income as defined in Section 31 of this Code; and
"(E) Income tax due and payable.
"x x x."