• “On ASSETS. Assets including those within or outside of the Philippines, whether real or personal, should be declared as well as description of real properties as to the kind, nature, exact location, acquisition mode and year, assessed value, fair market value, acquisition cost of land and/or building, including improvements made.
• Assets whether tangible (i.e. cash on hand, cars, appliances, jewelry, mobile phones) or intangible such as stocks, bond certificates, and the like, denominated in foreign currency shall be converted into the corresponding Philippine currency equivalent at the exchange rate prevailing as of 31 December of the preceding calendar year.
• On LIABILITIES. Nature of liability and name of creditors should be indicated. The declarant must disclose the outstanding balance as of 31 December of the preceding calendar year.
• Disclosure of ALL sources of gross income. For both single and joint filing, declarant must disclose all sources of income whether derived from practice of profession, business, and the like for the preceding calendar year.
• Declaring of Personal and Family Expenses. A new feature of the revised SALN form is the disclosure of the estimated amount of the declarant’s personal and family expenses. In case of joint filing, the declarant and his/her spouse shall declare the estimated amount of their personal and family expenses for the preceding calendar year.â€
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