Income Tax Brackets 2024 Philippines Calculator. That means that your net pay will be ₱ 20,942 per year, or ₱ 1,745 per month. Your average tax rate is 12.7% and.
First, you subtract the cost of sales from your gross income, and then apply a 40% deduction to that amount. Easily determine accurate withholding tax amounts for salaries, services, and other income types.