Summary
If you make ₱ 7,465,632 a year living in Philippines, you will be taxed ₱ 2,422,347. That means that your net pay will be ₱ 5,043,285 per year, or ₱ 420,274 per month. Your average tax rate is 32.5% and your marginal tax rate is 37.8%. 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 ₱ 37.82, hence, your net pay will only increase by ₱ 62.18.
Bonus Example
A ₱ 1,000 bonus will generate an extra ₱ 622 of net incomes. A ₱ 5,000 bonus will generate an extra ₱ 3,109 of net incomes.