Summary
If you make ₱ 126,944,992 a year living in Philippines, you will be taxed ₱ 47,721,416. That means that your net pay will be ₱ 79,223,576 per year, or ₱ 6,601,965 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 ₱ 37.91, hence, your net pay will only increase by ₱ 62.09.
Bonus Example
A ₱ 1,000 bonus will generate an extra ₱ 621 of net incomes. A ₱ 5,000 bonus will generate an extra ₱ 3,105 of net incomes.