How to Use the Philippines Tax Calculator?

1. Enter Your Monthly Income
Start by inputting your gross monthly income in Philippine Pesos (PHP) in the designated field. This should be your total income before any deductions or taxes.

2. Select Your Employment Type
Choose your employment status from the dropdown menu. The options are “Employed” or “Self-Employed”. This selection may affect certain calculations, particularly for self-employed individuals who might have different contribution rates.

3. Click the “Calculate Tax” Button
After entering your income and selecting your employment type, click the “Calculate Tax” button.
The calculator will provide a detailed breakdown of your tax calculation, including:

• Gross Monthly Income: Your input income before deductions.
• SSS Contribution: The amount you need to contribute to the Social Security System.
• PhilHealth Contribution: Your contribution to the national health insurance program.
• Pag-IBIG Contribution: Your contribution to the national savings program.
• Taxable Income: Your income after subtracting the above contributions.
• Income Tax: The amount of tax you need to pay based on your taxable income.
• Net Income: Your take-home pay after all deductions and taxes.

Below the results, you’ll find a brief explanation stating that the calculation is based on 2024 tax rates and contribution tables. It also mentions that your actual tax may vary depending on additional factors and deductions.

This Philippines Tax Calculator provides a quick and easy way to estimate your tax obligations and net income, helping you make informed financial decisions. However, it’s important to note that while this calculator provides a good estimate, it may not account for all possible deductions or special circumstances. For complex tax situations or official tax filing purposes, it’s always recommended to consult with a certified tax professional or refer to the official Bureau of Internal Revenue (BIR) guidelines.