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Affidavit Of Source Of Income for Philippines

Affidavit Of Source Of Income Template for Philippines

An Affidavit of Source of Income is a legally binding sworn statement used in the Philippines that formally declares an individual's sources and amounts of income. This document, governed by Philippine law including the National Internal Revenue Code and Rules of Court, serves as an official declaration of one's financial means. It requires notarization and must comply with local regulations regarding sworn statements. The document is commonly used for visa applications, loan processing, property transactions, and other situations requiring formal income verification. It includes detailed information about regular and supplementary income sources, supported by relevant documentation.

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What is a Affidavit Of Source Of Income?

The Affidavit of Source of Income is a crucial document in Philippine legal and financial transactions, required whenever formal verification of income is necessary. This sworn statement is commonly requested by banks, government agencies, educational institutions, and foreign embassies to establish an individual's financial capacity. The document must comply with Philippine legal requirements, including proper notarization and adherence to the National Internal Revenue Code. An Affidavit of Source of Income typically includes comprehensive details about employment income, business revenues, investments, and other income sources, along with supporting documentation. It serves as a legal basis for various applications and transactions, carrying penalties for false declarations under Philippine law.

What sections should be included in a Affidavit Of Source Of Income?

1. Title and Venue: Specifies the document type and jurisdiction where the affidavit is being executed

2. Affiant Information: Complete identification details of the person making the declaration, including full name, age, citizenship, and address

3. Oath and Competency Declaration: Statement confirming the affiant's competency to execute the document and understanding of the oath

4. Primary Source(s) of Income: Detailed description of main income sources (e.g., employment, business, investments)

5. Income Amount Declaration: Specific declaration of income amounts, typically on a monthly or annual basis

6. Supporting Documentation Reference: List of documents attached to support the income declarations

7. Certification of Truthfulness: Declaration that all statements made are true and correct

8. Jurat: Notarial section indicating where and when the document was sworn to

What sections are optional to include in a Affidavit Of Source Of Income?

1. Additional Income Sources: Section for declaring irregular or supplementary income sources, used when the affiant has multiple income streams

2. Purpose Declaration: Statement specifying the purpose for which the affidavit is being executed, included when required by the requesting entity

3. Dependents Declaration: List of dependents supported by the declared income, included when relevant to the affidavit's purpose

4. Tax Compliance Statement: Declaration of compliance with tax obligations, included when required for official purposes

5. Financial Obligations: Statement of existing financial obligations, included when relevant for loan or credit applications

What schedules should be included in a Affidavit Of Source Of Income?

1. Schedule A - Income Breakdown: Detailed monthly or annual breakdown of all income sources with specific amounts

2. Schedule B - Supporting Documents: List and copies of supporting documents such as pay slips, business permits, or tax returns

3. Schedule C - Bank Statements: Recent bank statements showing regular income deposits (if applicable)

4. Appendix 1 - Business Information: Detailed information about business operations if self-employed or business owner

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Publisher

Ƶ

Document Type

Affidavit

Cost

Free to use
Relevant legal definitions

























Clauses
















Relevant Industries

Banking and Financial Services

Government and Public Sector

Legal Services

Immigration Services

Real Estate

Education

Healthcare

Insurance

Telecommunications

Relevant Teams

Legal

Compliance

Risk Management

Credit Administration

Visa Processing

Customer Service

Administrative Support

Document Control

Financial Operations

Human Resources

Relevant Roles

Loan Officer

Immigration Officer

Bank Manager

Legal Counsel

Compliance Officer

Human Resources Manager

Property Manager

Financial Advisor

Credit Analyst

Visa Processing Officer

Legal Secretary

Notary Public

Administrative Officer

Risk Assessment Officer

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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