Bracket 1: Those earning not over P23,000 ($490.29) would pay a fixed tax rate of 5%
Bracket 2: Those earning over P23,000 ($490.29) to P68,000 ($1,449.45) would pay a fixed tax of P1,100 ($23.45), plus 10% of the excess over P23,000 ($490.29)
Bracket 3: Those earning over P68,000 ($1,449.45) to P160,000 ($3,410.43) would pay a fixed tax of P5,600 ($119.37), plus 15% of the excess over P68,000 ($1,449.45)
Bracket 4: Those earning over P160,000 ($3,410.43) to P320,000 ($6,823.68) would pay an excess tax of P19,400 ($413.67), plus 20% of the excess over P160,000 ($3,410.43)
Bracket 5: Those earning over P320,000 ($6,823.68) to P570,000 ($12,154.69) would pay a fixed tax of P51,400 ($1,096.06), plus 25% of the excess over P320,000 ($6,823.68)
Bracket 6: Those earning over P570,000 ($12,154.69) to P1.2 million ($25,580.96) would pay a fixed tax of P114,000 ($2,430.19), plus 30% of the excess over P570,000 ($12,154.69)
Bracket 7: Those earning over P1.2 million ($25,580.96) would pay a fixed tax of P300,000 ($6,395.23), plus 32% of the excess over P1.2 million ($25,580.96)