Quickly calculate your Philippine income tax for 2024 based on the TRAIN Law. This tool helps employees and self-employed individuals estimate their taxable income and net pay after BIR deductions. Understand your tax obligations with ease.
Formula:
The Philippine Income Tax calculation follows a progressive tax system based on your taxable income. The formula is not a single linear equation but rather a tiered system where different portions of your income are taxed at varying rates, as stipulated by the TRAIN Law (Republic Act No. 10963).
- Taxable Income = Gross Income - (Mandatory Contributions + Other Deductions)
- Income Tax Due = (Taxable Income - Threshold Amount) × Applicable Tax Rate + Fixed Tax
Our calculator applies these rates automatically to determine your accurate tax liability based on current BIR guidelines.