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PH Tax 2024

iCalculator™ PH: Philippines Tax Calculators

Welcome to iCalculator™ PH, your comprehensive suite of free tax calculators for Philippines. iCalculator™ has provided free tax calculators for Philippines since 2019. Since those early days we have extended our resources for Philippines to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Philippines Tax Calculator and salary calculators within our Philippines tax section are based on the latest tax rates published by the Tax Administration in Philippines. In this dedicated Tax Portal for Philippines you can access:

Philippines Tax Calculator 2024/25

The Philippines Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Philippines. This includes calculations for

  1. Employees in Philippines to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Philippines.
Philippines Tax Calculator 2024
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Advanced Philippines Salary Calculator
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Discover the Philippines

The Philippines is an archipelagic country located in Southeast Asia. Comprising over 7,000 islands, it is situated in the western Pacific Ocean, bounded by Taiwan to the north, Vietnam to the west, Palawan's waters and Borneo to the southwest, and the Celebes Sea and Indonesia to the south. The country is divided into three main geographical areas: Luzon, Visayas, and Mindanao. Its capital, Manila, is on the island of Luzon and is one of the most densely populated cities in the world.

Culturally, the Philippines is a melting pot of influences, primarily from its Malay ancestors, Spanish colonization, and American occupation. Filipino and English are the official languages, reflecting the country's colonial history. The Philippines is predominantly Catholic, a legacy of Spanish rule, and this has a significant influence on its culture, festivals, and traditions. The country is known for its vibrant festivals, diverse cuisine, and warm, hospitable people. It has a rich history in arts and crafts, music, dance, and literature.

Economically, the Philippines is considered an emerging market and a newly industrialized country. It has transitioned from being agriculture-based to one that is more services and manufacturing-oriented. Key sectors include electronics assembly, garments, business process outsourcing (BPO), and remittances from millions of Filipinos working abroad. The BPO industry, in particular, has become a significant contributor to the country's GDP. Agriculture, while no longer the primary sector, remains important, with rice, coconut, and sugar as major products.

The Philippines has experienced steady economic growth in recent years, although it faces challenges such as income inequality, poverty, and vulnerability to natural disasters due to its location in the Pacific Ring of Fire and close to the equator. For more detailed information about the Philippines' neighboring countries, you can visit their respective pages on iCalculator: Taiwan, Vietnam, Indonesia, and Malaysia.

Overview of Taxation in the Philippines

The taxation system in the Philippines is multifaceted, encompassing various types of taxes administered at both national and local levels. The national government imposes personal income tax, which is progressive in nature, corporate income tax, value-added tax (VAT), excise taxes on certain goods, and customs duties. Personal income tax is levied on the income of individuals, with rates structured to increase with higher income brackets. Corporate income tax applies to the earnings of corporations and other business entities operating in the country.

VAT in the Philippines is a form of sales tax applied to the sale of goods and services. Excise taxes are imposed on specific goods, such as tobacco and alcohol, and luxury items. Customs duties are levied on goods imported into the country, playing a significant role in revenue generation. Additionally, the local government units in the Philippines are authorized to collect local taxes, such as real property tax and business tax, which contribute to local development and services.

The Philippine tax system aims to support government expenditures while promoting fairness and efficiency. It includes various exemptions and incentives, particularly for certain businesses and industries, as part of economic policy and development strategies. The Bureau of Internal Revenue (BIR) is the primary agency responsible for tax collection and enforcement.

For those seeking detailed information on the latest tax regulations, exemptions, and compliance in the Philippines, the latest tax tools and tax tables are valuable resources. These tools provide comprehensive insights into the Philippine tax landscape, aiding individuals and businesses in effective tax planning and management.