RR No. 05-2001 — Revoke the requirement for non-re ident citizen , over ea contract worker and eamen to file information return on income derived from ource out ide the Philippine Dige t | Full Text

July 31, 2001 REVENUE REGULATIONS NO. 5 - 2001 SUBJECT : Revoking the Requirement for Non-Resident Citizens, Overseas Contract Workers (OCWs) and Seamen to File Information Returns on Income Derived from Sources Outside the Philippines. TO : All Internal Revenue Officers and Others Concerned. SECTION 1. SCOPE. � Pursuant to Section 244 of the Tax Code of 1997, in relation to Section 23(B) and (C) and Section 51(A)(2)(d) and (A)(3) of the same Code, these Regulations are hereby promulgated to repeal Revenue Memorandum Order No. (RMO) 30-99 and Revenue Regulations No. (RR) 9-99, prescribing the filing of information returns by non-resident citizens, overseas contract workers (OCWs) and seamen with respect to their income derived from sources outside the Philippines. SEC. 2. FILING OF INFORMATION RETURNS (BIR FORM 1701C OR BIR FORM 1703) NO LONGER REQUIRED. - Non-resident citizens who are exempt from tax with respect to income derived from sources outside the Philippines in accordance with Section 23(B) and (C), in relation to Section 22 (E) and Section 51 (A)(2)(d) and (A)(3) of the Tax Code of 1997, but who are nevertheless mandated to file information returns (BIR Form 1701C or the new computerized Form 1703) pursuant to RMO 30-99 and RR 9-99, shall no longer be required to file the same on their income derived from sources outside the Philippines beginning taxable year 2001. SEC. 3. REPEALING CLAUSE. - For purposes of these Regulations, RMO 30-99 and RR 9-99 are hereby repealed accordingly. SEC. 4. EFFECTIVITY CLAUSE. - These Regulations shall take effect (15) days after publication in any newspaper of general circulation. (Original Signed) JOSE ISIDRO N. CAMACHO Secretary of Finance Recommending Approval: (Original Signed) REN� G. BA�EZ Commissioner of Internal Revenue