Philippines Tax Tables 2024 - Tax Rates and Thresholds in Philippines
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This page contains the tax table information used for the calculation of tax and payroll deductions in Philippines in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ PH, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Philippines or would like to add to or suggest amendments to the information herein then please contact us.
2024 Tax Tables [Quick Links]
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Philippines Personal Income Tax Tables in 2024
The Income tax rates and personal allowances in Philippines are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Philippines Tax Calculator 2024.
Philippines Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from ₱ 0.000.00 | to | ₱ 250,000.00 |
| 15% | Income from ₱ 250,000.01 | to | ₱ 400,000.00 |
| 20% | Income from ₱ 400,000.01 | to | ₱ 800,000.00 |
| 25% | Income from ₱ 800,000.01 | to | ₱ 2,000,000.00 |
| 30% | Income from ₱ 2,000,000.01 | to | ₱ 8,000,000.00 |
| 35% | Income from ₱ 8,000,000.01 | | and above |
Philippines Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from ₱ 0.000.00 | to | ₱ 250,000.00 |
| 15% | Income from ₱ 250,000.01 | to | ₱ 400,000.00 |
| 20% | Income from ₱ 400,000.01 | to | ₱ 800,000.00 |
| 25% | Income from ₱ 800,000.01 | to | ₱ 2,000,000.00 |
| 30% | Income from ₱ 2,000,000.01 | to | ₱ 8,000,000.00 |
| 35% | Income from ₱ 8,000,000.01 | | and above |
Philippines Social Security and Payroll Deduction Rates in 2024
In the Philippines, both employees and employers are required to make contributions to the social security system, which is designed to provide a range of benefits and support to the working population and their families.
Philippines Social Security in 2024: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Social Security System (SSS) | 4.5% | 9.5% | 14% |
| Philippine Health Insurance Corporation (PhilHealth) | 2.5% | 2.5% | 5% |
| Home Development Mutual Fund (HDMF) Basic | 1% | 0% | 1% |
| Home Development Mutual Fund (HDMF) Standard | 2% | 2% | 4% |
| Employee Compensation Program (EC) basic | 0% | 100% | 100% |
| Employee Compensation Program (EC) standard | 0% | 100% | 100% |
Philippines Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Social Security System (SSS) | n/a | ₱ 30,000.00 | n/a | ₱ 30,000.00 |
| Philippine Health Insurance Corporation (PhilHealth) | n/a | ₱ 100,000.00 | n/a | ₱ 100,000.00 |
| Home Development Mutual Fund (HDMF) Basic | ₱ 12,000.00 | ₱ 18,000.00 | n/a | n/a |
| Home Development Mutual Fund (HDMF) Standard | ₱ 18,000.00 | ₱ 60,000.00 | n/a | ₱ 10,000.00 |
| Employee Compensation Program (EC) basic | n/a | n/a | n/a | ₱ 10.00 |
| Employee Compensation Program (EC) standard | ₱ 0.00 | ₱ 0.00 | ₱ 14,749.00 | ₱ 14,769.00 |
Social Security System (SSS) Contributions
Contributions to the Social Security System (SSS) in the Philippines cover several key areas:
- Retirement Benefits: These contributions ensure that employees receive a pension upon reaching retirement age, providing financial security in their later years.
- Disability Benefits: SSS contributions fund benefits for employees who become disabled and are unable to work, offering them financial assistance.
- Sickness Benefits: These benefits provide financial support to employees during periods when they are unable to work due to illness.
- Maternity Benefits: Female employees are eligible for maternity benefits, which provide financial assistance during and after pregnancy.
- Death and Funeral Benefits: In the event of an employee's death, SSS provides benefits to the beneficiaries, along with a funeral grant.
PhilHealth Contributions
Employees and employers also contribute to the Philippine Health Insurance Corporation (PhilHealth), which funds the national health insurance program. These contributions provide access to various medical and hospital services, aiming to ensure universal health coverage.
Pag-IBIG Fund Contributions
The Home Development Mutual Fund, commonly known as the Pag-IBIG Fund, receives contributions that provide housing finance options for Filipino workers. Contributions to the Pag-IBIG Fund enable members to avail of housing loans and save for their future housing needs.
The social security and payroll deduction system in the Philippines plays a vital role in providing financial protection and benefits to employees, contributing significantly to social welfare and economic stability.
Philippines VAT Rates in 2024
VAT rates for Philippines are reviewed annually, you can use the VAT Calculator to calculate VAT due in Philippines or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Philippines VAT Rates| VAT Rate | VAT Description |
|---|
| 0% | Zero Rated |
| 0% | Reduced Rate |
| 12% | Standard Rate |
| 18% | Higher Rate |
Historic Tax Tables supported for Philippines
The following tax tables are supported by iCalculator™ PH as part of the suite of free tax tools we provide for Philippines.