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Tax presentation

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This document provides instructions for computing taxes. It outlines 8 steps: 1) identify basic annual salary, 2) add annual benefits, 3) add monthly personal contributions to GSIS, Pag-Ibig, and PHIC, 4) get total taxable amount by adding salary and taxable benefits, 5) get basic salary taxable amount by subtracting contributions, 6) identify exemptions, 7) get total taxable amount by subtracting exemptions from taxable amount, and 8) use the tax table to determine tax due.

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TAX COMPUTATION By: VERGIELYN E. DATOY SST-III/Budget Officer Designate
1.Identify your basic salary for the whole year. (monthly salary x 12 months.) 2.Add the benefits you have received for the whole year.
Tax presentation
3. Add your monthly personal share remittances. -GSIS 9% of the basic salary -HDMF (Pag-ibig) 2% of the basic salary -PHIC remittance (by salary bracket)
Tax presentation
4. Get the total taxable amount. - Basic salary+ taxable benefit ( excess of 82,000) 5. Get the BASIC SALARY TAXABLE AMOUNT -Total Taxable- total remittances 6. Identify your exemption.
7. Get the TOTAL TAXABLE AMOUNT. -Taxable amount -Exemption
8. You can now get your TAX DUE using the tax table.
THANK YOU!

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Tax presentation

  • 1. TAX COMPUTATION By: VERGIELYN E. DATOY SST-III/Budget Officer Designate
  • 2. 1.Identify your basic salary for the whole year. (monthly salary x 12 months.) 2.Add the benefits you have received for the whole year.
  • 4. 3. Add your monthly personal share remittances. -GSIS 9% of the basic salary -HDMF (Pag-ibig) 2% of the basic salary -PHIC remittance (by salary bracket)
  • 6. 4. Get the total taxable amount. - Basic salary+ taxable benefit ( excess of 82,000) 5. Get the BASIC SALARY TAXABLE AMOUNT -Total Taxable- total remittances 6. Identify your exemption.
  • 7. 7. Get the TOTAL TAXABLE AMOUNT. -Taxable amount -Exemption
  • 8. 8. You can now get your TAX DUE using the tax table.