Mrs.

Tan with two children:

Basic Monthly Salary Php 14,750
Monthly Contributions:
SSS Php 500
Pag-ibig Php 100
Phil. Health Php 175

13th Month Pay Php 14,750

Annual Basic Salary Php 167,700
Total Annual Contributions: Php 9,300

Gross Compensation income: Php 191,750

Total Non-Taxable: Php 24,050
Taxable Compensation Income:Php 167,700
Total Exemptions; Php 100,000
Net Taxable Compensation Income: Php 67,700
Tax Due: Php 8,155

Mr. Paz was married with two children:

Basic Monthly Salary Php 20,000
Monthly Contributions:
SSS Php
Pag-ibig Php
Phil. Health Php

13th Month Pay Php

Annual Basic Salary Php
Total Annual Contributions: Php

Gross Compensation income: Php

Total Non-Taxable: Php
Taxable Compensation Income: Php
Total Exemptions; Php
Net Taxable Compensation Income: Php
Tax Due: Php

Computation:

Annual Basic Salary (ABS) = Monthly Salary x 12 – Total Annual Contributions

Gross Compensation Income (GCI) = ABS + TNT
Total Non-Taxable (TNT) = 13 month + Total Annual Contributions
Taxable Compensation Income (TCI) = GCI – TNT
Total Exemptions (TE) = 50,000 (single, widow, married) + 25,000 each qualified dependent
Net Taxable Compensation Income (NTCI) = TCI – TE
Tax Due = please refer with tax table

"Not over P10,000 ........ 5%

"Over P10,000 but not over P30,000 ........ P500+10% of the excess over P10,000

"Over P30,000 but not over P70,000 ........ P2,500+15% of the excess over P30,000

"Over P70,000 but not over P140,000 ........ P8,500+20% of the excess over P70,000

"Over P140,000 but not over P250,000 ........ P22,500+25% of the excess over P140,000
"Over P250,000 but not over P500,000 ........ P50,000+30% of the excess over P250,000

"Over P500,000 ........ P125,000+32% of the excess over P500,000

SiR DaTz 