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Affidavit of Low Income

Juan Dela Cruz, representing ABC Inc., affirms in an affidavit that the company's annual gross income significantly decreased from PHP 69.5 million in 2020 to PHP 15 million in 2021. This reduction was due to some major clients terminating their contracts with ABC Inc. as their own businesses were impacted by the COVID-19 pandemic. Juan executed this affidavit to attest to these facts regarding ABC Inc.'s financial situation.

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Atty. Jefferson B. Yap
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5K views1 page

Affidavit of Low Income

Juan Dela Cruz, representing ABC Inc., affirms in an affidavit that the company's annual gross income significantly decreased from PHP 69.5 million in 2020 to PHP 15 million in 2021. This reduction was due to some major clients terminating their contracts with ABC Inc. as their own businesses were impacted by the COVID-19 pandemic. Juan executed this affidavit to attest to these facts regarding ABC Inc.'s financial situation.

Uploaded by

Atty. Jefferson B. Yap
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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AFFIDAVIT OF LOW INCOME

I, JUAN DELA CRUZ, of legal age, Filipino and with office address
at Quezon City, Philippines, after having been duly sworn to in
accordance with law hereby depose and state THAT:

1. I am the authorized representative of ABC, Inc., a domestic


corporation duly organized and existing under and by virtue
of the operation of the Philippine laws, with principal office
address at Quezon City, Philippines;

2. For the year 2020, our company was able to earn the gross
income amounting to Sixty-Nine Million Five Hundred
Thirty-Four Thousand One Hundred Sixty-Two and
68/100 Pesos (PHP69,534,162.68);

3. However for the year 2021, our gross income was significantly
reduced to Fifteen Million Fifty-Nine Thousand Five
Hundred Twenty-Eight and 04/100 Pesos
(PHP15,059,528.04);

4. There was significant reduction in the annual gross income of


our company for the year 2021 because some of our big
clients terminated their contract with us since their
businesses were greatly affected by the Pandemic brought
about by the COVID 19; and

5. I am executing this affidavit to attest to the truth of the


foregoing facts and for whatever legal intents
and purposes that it may serve.

IN WITNESS WHEREOF, we have hereunto affixed our signatures


this ____day of ____________ 2022 at Davao City, Philippines.

JUAN DELA CRUZ


Affiant

SUBSCRIBED AND SWORN TO before me this ___ day of _______ at


Quezon City, Philippines, affiant is personally known to me.

Doc. No. ____


Page No. ____
Book No. ____
Series of 2022.

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