Summary
If you make ₱ 121,333,333 a year living in Philippines, you will be taxed ₱ 45,593,662. That means that your net pay will be ₱ 75,739,671 per year, or ₱ 6,311,639 per month. Your average tax rate is 37.6% and your marginal tax rate is 37.9%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of ₱ 100 in your salary will be taxed ₱ 37.92, hence, your net pay will only increase by ₱ 62.08.
Bonus Example
A ₱ 1,000 bonus will generate an extra ₱ 621 of net incomes. A ₱ 5,000 bonus will generate an extra ₱ 3,104 of net incomes.