What are the income tax rates for the tax deducted from your monthly salary in the Philippines?

What are the income tax rates for the tax deducted from your monthly salary in the Philippines?
Any ideas? I am referring to the tax deducted monthly, not the tax you have to file and pay to the BIR each year. Really appreciate it if you guys can help WHUDAFX - > well, in terms of choosing an avatar, I would say you have good taste ;) Ja-na-> Thanks for your help,I already saw this page, but I think the rates there are those that you have to file each year. I'm looking for the rates that they deduct from your salary each month. Because if you look at the site, the tax rates there are too low than from what they are deducting from your salary. Thanks for all your answers.. I didn't know that it is calculated by year and deducted monthly.. so that really helped. The salary offered to me falls in the 35K-50K bracket.. how much would my tax rate be?


Answers:

WHUDAFXUP:  im not hear to specifically answer ur question but i couldn't help but notice how much ur avi looks like mine
2007-07-27 15:57:25
jan-na~?~:  here's a site http://www.bir.gov.ph/taxinfo/tax_income.htm#25147
2007-07-27 16:31:27
BIG CHUCK:  Try this link the figures are a bit old but may still be current. http://www.philembassy.au.com/download/hownvest-tax.pdf
2007-07-27 16:52:33
ScarletRaven1001:  As far as I know, the tax deducted from taxpayers who registered as single (no dependents) is about 12% of the monthly income. It's kinda high, right? I'm looking around my dilapidated town and still wondering where my taxes actually went.
2007-07-27 18:16:42
Chosen Answer
celestine:  in the case of taxes from compensation, your accountant must determine your whole year taxable compensation, and from that amount personal exemptions will be deducted. the amount will varry wether you are single, married, head of the family and additional exemptions for dependent children up to a maximum of four. the difference becomes your net taxable income for a year. this is where the income tax rates for individual with compensation is applied. the product will be your income tax liability for the whole year. to lessen the burden of your tax, it is divided into 12 months to give you a monthly deduction from your payroll. hope this help.
2007-07-27 19:33:53
i a:  Actually, they already computed the tax for the whole year but they deduct it monthly..
2007-07-27 21:28:49
Black Hat:  Depends with your salary rate, the percentage ranges for 5% up to 20%. Thats too much, isn't it. wink-wink
2007-07-27 21:31:51
rlntap:  Well, it depends on your monthly salary including your overtime. There is a table, if you fall in 15% or 20%, thats the rate your employer deduct on you monthly salary. Hope this help you.
2007-07-28 10:31:31