On 31 August 2026, Exempt Resolution No. 112 modified Exempt Resolution No. 107 of 2025 (which restructured Annual Sworn Statement 1922) and Exempt Resolution No. 112 of 2025 (which established Annual Sworn Statement 1962). The amendments adjust field definitions, add new line items for foreign-source income, and align the forms with the 2026 tax reform provisions.
Key Takeaways
- Form 1922 Changes: New fields for reporting income from digital services and crypto-asset transactions.
- Form 1962 Updates: Enhanced reporting for controlled foreign corporation (CFC) income and passive foreign investment company (PFIC) distributions.
- Effective Immediately: The amended forms apply to the 2026 tax year filings due in 2027; taxpayers should update their tax software accordingly.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement