Information about minimum wage and taxes in the Philippines.

Minimum wage in the Philippines varies depending on the region and industry. As of 2021, the minimum wage in Manila is set at 537 Philippine pesos (approximately US$

11.20) per day. Minimum wages in other regions may also be below Manila. The tax system in the Philippines consists of income tax, value added tax and some other taxes. Income tax is determined according to a person's earnings and is calculated on a certain portion of the monthly gross income. Income tax brackets vary for different income levels. Value added tax (VAT) is applied as a consumption tax and is generally collected on the sale of goods and services. The standard VAT rate is 12 percent, but lower VAT rates may apply for some goods and services. Tax filing and payment in the Philippines is done through a special tax return. There are certain deadlines regarding when and how to fill out the declaration, and taxpayers must comply with these deadlines. Tax returns are usually filled out once a year. The tax system and minimum wage policies may change from time to time, so it is important to obtain the most up-to-date information from official sources such as the Philippine Department of Finance or the tax office.

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Philippines Economic information

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Information about minimum wage and taxes in the Philippines.

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