Tax Brackets 2024 Philippines Calculator . It is done by multiplying your taxable income by the applicable tax rate and subtracting any tax credits or payments you've made. Unsure about your tax payments after the new system of brackets, rates, and exemptions with the train law?
This marginal tax rate means that your immediate additional income will be taxed at this rate. Your average tax rate is 5.4% and your marginal tax rate is 2.0%.
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