DAILY Compensation Range Prescribed Withholding Tax WEEKLY Compensation Range Prescribed Withholding Tax SEMI-MONTHLY Compensation Range Prescribed...
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DAILY Compensation Range Prescribed Withholding Tax WEEKLY Compensation Range Prescribed Withholding Tax SEMI-MONTHLY Compensation Range Prescribed Withholding Tax MONTHLY Compensation Range Prescribed Withholding Tax 1 PHP 685 and below 0.00 PHP4,808 and below 0.00 PHP10,417 and below 0.00 1 PHP20,833 and below 0.00 REVISED WITHHOLDING TAX TABLE Effective 1 January 2018 to 31 December 2022 3 4 5 PHP2,192 – P5,478 | PHP5,479 – PHP685 – PHP1,095 0.00 +20% over PHP685 2 PHP4,808- PHP7,691 0.00 +20% over PHP4,808 2 PHP10,417 – PHP16,666 0.00 +20% over PHP10,417 2 PHP20,833- PHP33,332 0.00 +20% over PHP20,833 PHP1,096 – PHP2,191 PHP82.19 +25% over PGP1,096 3 PHP7,692- PHP15,384 PHP576.92 +25% over PHP7,692 3 PHP16,667 – PHP33,332 PHP1,250 +25% over PHP16,667 3 PHP33,333- PHP66,666 PHP2,500 +25% over PHP33,333 PHP356.16 +30% over PHP2,192 PHP15,385 - PHP38,461 PHP2,500 +30% over PHP 15,385 4 PHP33,333- PHP83,332 PHP5,416.67 +30% over PHP33,333 4 PHP66,667- PHP166,666 PHP10,833.33 +30% over PHP66,667 PHP21,917 PHP1,342.47 +32% over PHP 5,479 PHP38,462- PHP153,845 PHP9423.08 +32% over PHP 38,462 5 PHP83,333- PHP333,332 PHP20,416.67 +32% over PHP83,333 5 PHP166,667- PHP666,666 PHP40,833.33 +32% over PHP166,667 6 PHP21,918 and above PHP6,602.74 +35% over PHP21,918 6 PHP153,846 and above PHP43,346.15 +35% over PHP 153,846 6 PHP333,333 and above PHP100,416.67 +35% over PHP333,333 6 PHP666,667 and above PHP200,833.33 +35% over PHP666,667 New TRAIN Income Tax Table (For the years 2018 to 2022) Under the approved TRAIN Tax Law effective January 1, 2018 TAX RATE ANNUAL INCOME P250,000 and below > P250,000 to P400,000 > P400,000 to P800,000 > P800,000 to P2,000,000 > P2,000,000 to P8,000,000 Above P8,000,000 None (0%) 20% of excess over P250,000 P30,000 + 25% of excess over P400,000 P130,000 + 30% of excess over P800,000 P490,000 + 32% of excess over P2,000,000 P2.41 million + 35% of excess over P8 million PinoyMoneyTalk.com See instruction in simulation page See instruction in simulation page Last 6 digit of your cell number (see sample in simulation page) Monthly Annual P 800 100 900 P See instruction in simulation page See instruction in simulation page Last 6 digit of your cell number (see sample in simulation page) Monthly Annual P 800 100 900 P P Р Р O 9,600 1,200 10,800 21,600 Computation Guido 9,600 1,200 10,800 21,600 COMPENSATION INCOME Employer 1 Name: Employer 1 TIN: Compensation - annual Less Non-taxable compensation income: 13th month pay (from compensation income) SSS contribution Pagibig contribution Philhealth Total Non-taxable income Taxable compensation Tax withheld (refer to the table to determine withholding tax) Employer 1 Name: Employer 1 TIN: Compensation - annual Less Non-taxable compensation income 13th month pay (from compensation income) SSS contribution P Pagibig contribution Philhealth Total Non-taxable income Taxable compensation Tax withheld (refer to the table to determine withholding tax) 9,600 1,200 10,800 9,600 1,200 10,800 P P Р P P 21,600 -21,600 21600 -21600 0 Last 7 digit of cell number in reverse order 1% 1% of Sales ### 25% of Sales Computation Guide ### *Total of expenses should be 40% of sales *distribute the 40% to items you select depending on kind of business you have in mind *its not necessary to fill-out all the items but items in green highlights are required *Indicate the percentage for each expenses Part 2 0% BUSINESS INCOME Name of Business. Business TIN Number Sales/Revenue/Receipts/Fees Less: Sales Returns, Allowances, Discounts Net Sales/Revenues/Receipts/Fees Less: Cost of sales/services Gross income/(Loss) from Operation Less Operating expenses: % Amortization Bad debts Charitable & other contributions Depletion Depreciation Entertainment, Amusement & recreation Fringe benefits Interest Losses Pension Trust Rental Research & development Salaries, wages & allowance SSS, GSIS, Philhealth, HDMF & Other contributions Taxes & licenses Transportation Taxable Business Income P P P P Last 7 digit of cell number in reverse order 1% 1% of Sales 25% 25% of Sales Computation Guide 40% *Total of expenses should be 40% of sales *distribute the 40% to items you select depending on kind of business you have in mind *its not necessary to fill-out all the items but items in green highlights are required *Indicate the percentage for each expenses PART 3 COMPUTATION OF WITHHOLDING TAX Use Withholding Tax Table (Monthly) Gross compensation - monthly Less Statutory deduction - monthly Taxable compensation Compute withholding tax: (show computations here) P P P Employer 1 P P P Employer 2 PART 4 COMPUTATION OF TAX Use graduated tax table Taxable Compensation income: Employer 1 Employer 2 Total Taxable Compensation income Total Taxable Business income Total taxable income Compute income tax due: (show computation here) a P P P Indicate name of employer 1 Indicate name of employer 2 DAILY Compensation Range Prescribed Withholding Tax WEEKLY Compensation Range Prescribed Withholding Tax SEMI-MONTHLY Compensation Range Prescribed Withholding Tax MONTHLY Compensation Range Prescribed Withholding Tax 1 PHP 685 and below 0.00 PHP4,808 and below 0.00 PHP10,417 and below 0.00 1 PHP20,833 and below 0.00 REVISED WITHHOLDING TAX TABLE Effective 1 January 2018 to 31 December 2022 3 4 5 PHP2,192 – P5,478 | PHP5,479 – PHP685 – PHP1,095 0.00 +20% over PHP685 2 PHP4,808- PHP7,691 0.00 +20% over PHP4,808 2 PHP10,417 – PHP16,666 0.00 +20% over PHP10,417 2 PHP20,833- PHP33,332 0.00 +20% over PHP20,833 PHP1,096 – PHP2,191 PHP82.19 +25% over PGP1,096 3 PHP7,692- PHP15,384 PHP576.92 +25% over PHP7,692 3 PHP16,667 – PHP33,332 PHP1,250 +25% over PHP16,667 3 PHP33,333- PHP66,666 PHP2,500 +25% over PHP33,333 PHP356.16 +30% over PHP2,192 PHP15,385 - PHP38,461 PHP2,500 +30% over PHP 15,385 4 PHP33,333- PHP83,332 PHP5,416.67 +30% over PHP33,333 4 PHP66,667- PHP166,666 PHP10,833.33 +30% over PHP66,667 PHP21,917 PHP1,342.47 +32% over PHP 5,479 PHP38,462- PHP153,845 PHP9423.08 +32% over PHP 38,462 5 PHP83,333- PHP333,332 PHP20,416.67 +32% over PHP83,333 5 PHP166,667- PHP666,666 PHP40,833.33 +32% over PHP166,667 6 PHP21,918 and above PHP6,602.74 +35% over PHP21,918 6 PHP153,846 and above PHP43,346.15 +35% over PHP 153,846 6 PHP333,333 and above PHP100,416.67 +35% over PHP333,333 6 PHP666,667 and above PHP200,833.33 +35% over PHP666,667 New TRAIN Income Tax Table (For the years 2018 to 2022) Under the approved TRAIN Tax Law effective January 1, 2018 TAX RATE ANNUAL INCOME P250,000 and below > P250,000 to P400,000 > P400,000 to P800,000 > P800,000 to P2,000,000 > P2,000,000 to P8,000,000 Above P8,000,000 None (0%) 20% of excess over P250,000 P30,000 + 25% of excess over P400,000 P130,000 + 30% of excess over P800,000 P490,000 + 32% of excess over P2,000,000 P2.41 million + 35% of excess over P8 million PinoyMoneyTalk.com See instruction in simulation page See instruction in simulation page Last 6 digit of your cell number (see sample in simulation page) Monthly Annual P 800 100 900 P See instruction in simulation page See instruction in simulation page Last 6 digit of your cell number (see sample in simulation page) Monthly Annual P 800 100 900 P P Р Р O 9,600 1,200 10,800 21,600 Computation Guido 9,600 1,200 10,800 21,600 COMPENSATION INCOME Employer 1 Name: Employer 1 TIN: Compensation - annual Less Non-taxable compensation income: 13th month pay (from compensation income) SSS contribution Pagibig contribution Philhealth Total Non-taxable income Taxable compensation Tax withheld (refer to the table to determine withholding tax) Employer 1 Name: Employer 1 TIN: Compensation - annual Less Non-taxable compensation income 13th month pay (from compensation income) SSS contribution P Pagibig contribution Philhealth Total Non-taxable income Taxable compensation Tax withheld (refer to the table to determine withholding tax) 9,600 1,200 10,800 9,600 1,200 10,800 P P Р P P 21,600 -21,600 21600 -21600 0 Last 7 digit of cell number in reverse order 1% 1% of Sales ### 25% of Sales Computation Guide ### *Total of expenses should be 40% of sales *distribute the 40% to items you select depending on kind of business you have in mind *its not necessary to fill-out all the items but items in green highlights are required *Indicate the percentage for each expenses Part 2 0% BUSINESS INCOME Name of Business. Business TIN Number Sales/Revenue/Receipts/Fees Less: Sales Returns, Allowances, Discounts Net Sales/Revenues/Receipts/Fees Less: Cost of sales/services Gross income/(Loss) from Operation Less Operating expenses: % Amortization Bad debts Charitable & other contributions Depletion Depreciation Entertainment, Amusement & recreation Fringe benefits Interest Losses Pension Trust Rental Research & development Salaries, wages & allowance SSS, GSIS, Philhealth, HDMF & Other contributions Taxes & licenses Transportation Taxable Business Income P P P P Last 7 digit of cell number in reverse order 1% 1% of Sales 25% 25% of Sales Computation Guide 40% *Total of expenses should be 40% of sales *distribute the 40% to items you select depending on kind of business you have in mind *its not necessary to fill-out all the items but items in green highlights are required *Indicate the percentage for each expenses PART 3 COMPUTATION OF WITHHOLDING TAX Use Withholding Tax Table (Monthly) Gross compensation - monthly Less Statutory deduction - monthly Taxable compensation Compute withholding tax: (show computations here) P P P Employer 1 P P P Employer 2 PART 4 COMPUTATION OF TAX Use graduated tax table Taxable Compensation income: Employer 1 Employer 2 Total Taxable Compensation income Total Taxable Business income Total taxable income Compute income tax due: (show computation here) a P P P Indicate name of employer 1 Indicate name of employer 2
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Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
Posted Date:
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