TABLE 2-2: GRADUATED TAX RATE

PRIOR to 2018 TRAIN LAW – TAXABLE YEAR 2018- 2023 onwards TAX
2022
INCOME TAX INCOME TAX TAX
Not over 5% Not over Exempt Exempt
₱10,000 ₱250,000

Over ₱10,000 ₱500 + 10% in Over ₱250,000 20% of excess 15% of excess over
but not over ₱ excess of ₱10,000 but not over over ₱250,000 ₱250,000
30,000 ₱400,000

Over ₱30,000 ₱2,500 + 15% in Over ₱400,000 ₱30,000 + 25% ₱22,500 + 20% in
but not over excess of ₱30,000 but not over in excess of excess of ₱400,000
₱70,000 ₱800,000 ₱400,000

Over ₱70,000 ₱8,500 + 20% in Over ₱800,000 ₱130,000 + 30% ₱102,500 + 25% in
but not over excess of ₱70,000 but not over in excess of excess of ₱800,000
₱140,000 ₱2,000,000 ₱800,000

Over ₱140,000 ₱22,500 +25% in Over ₱2,000,000 ₱490,000 + 32% ₱402,500 + 30% in
but not over excess of but not over in excess of excess of ₱2,000,000
₱250,000 ₱140,000 ₱8,000,000 ₱2,000,000

Over ₱250,000 ₱50,000 + 30% in Over ₱8,000,000 ₱2,410,000 + ₱2,202,500 + 35% in

but not over excess of 35% in excess of excess of ₱8,000,000
₱500,000 ₱250,000 ₱8,000,000

Over ₱500,000 ₱125,000 + 32%

in excess of
₱500,000