Summary
If you make ₱ 24,351,080 a year living in Philippines, you will be taxed ₱ 8,821,222. That means that your net pay will be ₱ 15,529,858 per year, or ₱ 1,294,155 per month. Your average tax rate is 36.2% 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.