Summary
If you make ₱ 29,255,616 a year living in Philippines, you will be taxed ₱ 10,680,859. That means that your net pay will be ₱ 18,574,757 per year, or ₱ 1,547,896 per month. Your average tax rate is 36.5% 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.