Summary
If you make ₱ 6,983,858 a year living in Philippines, you will be taxed ₱ 2,252,318. That means that your net pay will be ₱ 4,731,540 per year, or ₱ 394,295 per month. Your average tax rate is 32.3% and your marginal tax rate is 34.7%. 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 ₱ 34.66, hence, your net pay will only increase by ₱ 65.34.
Bonus Example
A ₱ 1,000 bonus will generate an extra ₱ 653 of net incomes. A ₱ 5,000 bonus will generate an extra ₱ 3,267 of net incomes.