COMPUTATION OF ANNUAL TAX

2021

Gross income Taxable Allowance SSS + MPF PHIC HDMF Tax withheld
Pay 1
Pay 2 100.00
Pay 3
Pay 4 100.00
Pay 5
Pay 6 100.00
Pay 7
Pay 8 100.00
Pay 9
Pay 10 100.00
Pay 11
Pay 12
Pay 13 100.00
Pay 14
Pay 15 100.00
Pay 16
Pay 17 100.00
Pay 18
Pay 19 100.00
Pay 20
Pay 21
Pay 22 100.00
Nov 100.00
Dec 100.00

- - - - 1,200.00 -
GROSS INCOME -
TAXABLE INCOME -
13th month pay in excess of Php90K
Total taxable pay -
LESS: SSS, PHIC and Pagibig 1,200.00
TAXABLE INCOME (1,200.00)

A. If taxable income is 250,000 and less - no tax

B. If taxable income is over 250K and not over Php400

Basic: the first Php250,000.00 -
In excess of Php250,000 = 20% (50,240.00)
TAX DUE (50,240.00)

C. If taxable income is over Php400K and not over Php800K

Basic: Php400,000 30,000.00
In excess of Php400,000 = 25% (100,300.00)
TAX DUE (70,300.00)

D. If taxable income is over Php800k and not over Php2M

Basic: Php800,000 130,000.00
In excess of Php800,000 = 30% (240,360.00)
TAX DUE (110,360.00)

E. If taxable income is over Php2M and not over Php8M

Basic: Php2M 490,000.00
In excess of Php2M = 32% (640,000.00)
TAX DUE (150,000.00)
TAX DUE (from either B, C, D or E)
Tax withheld -

DIFFERENCE - Nov & Dec -

Divided by 4 remaining pay periods -

Pay 23 -
Pay 24 -
Pay 25 -
Pay 26 -
For Nov & Dec -
COMPUTATION OF ANNUAL INCOME TAX
2023

Pay Date Basic OT/HP Adjustments Absences

Jan 6
Jan 20
Feb 3
Feb 17
Mar 3
Mar 17
Mar 31
Apr 14
Apr 28
May 12
May 26
June 9
June 23
Allowance - taxable 1st sem
July 7
July 21
Aug 4
Aug 18
Sept 1
Sept 15
Sept 29
Oct 13
Oct 27
Nov 10
Nov 24
Dec 8
Dec 22
13th month pay- taxable
Allowance - taxable 2nd sem
Previous employer

- - - -

Note:
1. Refund or return of overdeduction of SSS/Pagibig loan is not included in the table for computation.
2. Input allowance subject to tax under allowance (Column "F"), 1st sem- June; 2nd sem- Dec
3. Input 13th month pay in excess of Php90k in Column "G", if any
4. For those with previous employer, please input details from the 2316 to the row "36" and to the corresponding columns.
5. Only Php100 is allowed as Pagibig contribution in this template
6. Civil status has no bearing in the computaton of tax, nor if taxpayer has children or none.
 Allowance 13th Month Pay Total SSS + MPF PHIC HDMF Tax withheld
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

- - - - - - -

e corresponding columns.
GROSS INCOME -
LESS: SSS, PHIC and Pagibig -
TAXABLE INCOME -

A. If taxable income is 250,000 and less - no tax

B. If taxable income is over 250K and not over Php400K

Basic: the first Php250,000.00 -
In excess of Php250,000 = 15% (37,500.00)
TAX DUE (37,500.00)

C. If taxable income is over Php400K and not over Php800K

Basic: Php400,000 22,500.00
In excess of Php400,000 = 20% (80,000.00)
TAX DUE (57,500.00)

D. If taxable income is over Php800k and not over Php2M

Basic: Php800,000 102,500.00
In excess of Php800,000 = 25% (200,000.00)
TAX DUE (97,500.00)

E. If taxable income is over Php2M and not over Php8M

Basic: Php2M 402,500.00
In excess of Php2M = 30% (600,000.00)
TAX DUE (197,500.00)

Tax withheld (Column "L") -

Tax computed (please input the amount computed)
DIFFERENCE -
IF Difference is > 0, refund
IF Difference is < 0, withhold