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  • For The Years 2018-2022 Under The Approved TRAIN Tax Law Effective January 1, 2018

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    Willy Lagula
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    The document outlines the new income tax rates in the Philippines from 2018-2022 according to the TRAIN law. It provides the tax rates for different income brackets, which are 0% for incomes up to 250,000 pesos, then 20%, 25%, 30%, 32%, and 35% for higher income brackets. It also shows examples of calculating the tax owed for different income levels based on the rates.

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    The document outlines the new income tax rates in the Philippines from 2018-2022 according to the TRAIN law. It provides the tax rates for different income brackets, which are 0% for incomes up to 250,000 pesos, then 20%, 25%, 30%, 32%, and 35% for higher income brackets. It also shows examples of calculating the tax owed for different income levels based on the rates.

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    2 views1 page

    For The Years 2018-2022 Under The Approved TRAIN Tax Law Effective January 1, 2018

    Uploaded by

    Willy Lagula
    The document outlines the new income tax rates in the Philippines from 2018-2022 according to the TRAIN law. It provides the tax rates for different income brackets, which are 0% for incomes up to 250,000 pesos, then 20%, 25%, 30%, 32%, and 35% for higher income brackets. It also shows examples of calculating the tax owed for different income levels based on the rates.

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    © All Rights Reserved
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    of 1

    WILLY M.

    LAGULA

    11 - ABM

    NEW TRAIN INCOME TAX TABLE

    For the years 2018- 2022

    Under the approved TRAIN Tax Law effective January 1, 2018

    DATA:

    ANNUAL INCOME TAX RATE


    250,000 and below 0%
    250,000 – 400,000 20% of excess over 250,000
    400,000 – 800,000 30,000 + 25% excess over 400,000
    800,000 – 2,000,000 130,000 + 30% excess over 800,000
    2,000,000 – 8,000,000 490,000 + 32% excess over 8,000,000
    8,000,000 and above 2,410,000 + 35% excess over 8,000,000
    SOLVE FOR THE TAX RATE:

    400,000 – 250,000 = 150,000 x 0.2 = 30,000

    800,000 – 400,000 = 400,000 x 0.25 = 100,000 + 30,000 = 130,000

    2,000,000 – 800,000 = 1,200,000 x 0.3 = 360,000 + 130,000 = 490,000

    8,000,000 – 2,000,000 = 6,000,000 x 0.32 = 1,920,000 + 490,000 = 2,410,000

    IDENTIFYING X & Y:

    Independent Variable (X) Dependent Variable (Y)


    250,000 0
    250,000 – 400,000 30,000
    400,000 – 800,000 130,000
    800,000 – 2,000,000 490,000
    2,000,000 – 8,000,000 2,410,000
    Above 8,000,000 y
    EQUATION:

    (250,000)0

    (400,000 – 250,000) 0.2

    (800,000 – 400,000) 0.25 + 30,000

    (2,000,000 – 800,000) 0.3 + 130,000

    (8,000,000 – 2,000,000) 0.32 + 490,000

    (x – 8,000,000) 0.35 + 2,410,000

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