TAX FOR RESIDENT ALIENS: The existing income tax rates that apply to resident aliens and non-resident aliens doing business and receiving compensation income in the Philippines, are as follows: 0% for income not over P250,000; 20% for income from P250,00 to P400,000; 25% for income from P400,000 to P800,000; 30% for those earning P800,000 to P2 million; 32% for those earning from P2 million to P8 million; and 35% for those earning P8 million and above. These rates apply from January 1, 2018 to December 31, 2022. From January 1, 2023, a new compensation tax rate regime will be adopted in the Philippines, reducing income tax by 5% for low-income group. Resident aliens and non-resident aliens doing business and receiving compensation income in Asian country, and earning P250,000 (about $5,000) or less will pay zero taxes. Those who earn Php28,600 ($670 or Dh2,390) per month or up to Php400,000 per year will be taxed 15% (down from the existing 20% under TRAIN). https://bit.ly/3bTyEqJ
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