you declare your worlwide income if you are considered a resident for tax purposes and you only declare those income that are realized. For Pag-ibig MP2, di mo naman malalaman yung interest once you redeem it on the 5th year. Am I correct? Pero if you can see it like interest in bank accounts, then it must be declared. Same with VUL, those are unrealized gains/losses and it is an insurance too. For us, we did declare everything pero maliit lang sya kasi the average rate this FY2019 is around 38-39 ata. Saka meron foreign income tax offset for taxes paid overseas if with dta with the country.