The Bureau of Internal Revenue (BIR) has issued a memorandum on the revised withholding tax table. All companies must update their employees’ compensation records which has already started last January 1, 2018 under the implementation of Tax Reform Law (RA 10963) also known as Tax Reform for Acceleration and Inclusion (TRAIN).
Under the revised withholding tax table issued by the bureau, employees who are earning P685 per day or P20,833 per month will be exempted from withholding tax.
If you don’t fully understand the table above, we have made a simplified revised withholding tax table of BIR. This will be effective starting January 1, 2018 until December 31, 2022. Please be guided accordingly.
2020 Withholding Tax Table
Useful Articles:
- Salary Standardization Law (SSL) Law V | SSL 2020
- PDF Download Link of TRAIN or Republic Act RA 10963
- Updated DOF Tax Calculator
Source: bir.gov.ph
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Hi
I have a basic salary of 16k. my question is the computation of taxable salary is basic + Over time? it is entitled for tax deduction ?
Hi.
I have a monthly basic salary of P30,000.00, i was being deduction tax minimum 7k is that the proper computation?? I have been complaining about it but they do not give acceptable explanation. Can you please show me an example computation please so i can send it to our office so that they can correct my with holding tax.
Thank you very much in advance.
C.Anonuevo
your monthly tax should be 30,000 – 20,833 = 9,167.00
9,167.00 x 20% = P 1,833.40
why until only dec. 31,2022? why not make it a permenant mandate?
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