The 2018 Tax Reform Law will be implemented starting January 1, 2018. Every taxpayer should know the details of Tax Reform Law 2018 (TRAIN) which was signed by President Rodrigo Duterte into law on December 19.
The Department of Finance is still revising their Tax Calculator as of this writing (see the latest version of DOF Tax Calculator). Upon searching a reliable source in the internet, our team found out the Pinoy Tax Reform Calculator which is a project of Data Analytics Team of ABS-CBN News. Check on how will you be affected.
Link: Pinoy Tax Reform Calculator
Our team also found a very useful information in table forms for the take home pay under 2018 Tax Reform Law. This article is from the website of Pinoy Money Talk entitled “Here’s your new Take-Home Pay under 2018 Philippine Tax Reform.” The rest of the pictures below are grabbed from the said article. This is simple and easy to understand tables starting from a monthly salary of P15,000 up to P110,000.
Useful Articles:
- Revised Withholding Tax Table | Bureau of Internal Revenue
- PDF Download Link of TRAIN or Republic Act RA 10963
- Highlights of Tax Reform Law 2018 (TRAIN)
- Salary Standardization Law (SSL) Effective January 1, 2018 | Third Tranche
- Updated DOF Tax Calculator
Sources: ABS-CBN and Pinoy Money Talk
can we know the limitations of train law with regards to job order government professionals??