Filipino workers are getting higher take-home pays in 2023 as the TRAIN Law further reduces personal income taxes. More details here:
MANILA, Philippines – Filipino workers are getting higher take-home pays in 2023 as the TRAIN Law further reduces personal income taxes.
TRAIN Law, which was implemented in 2018, has reduced taxes by 5% for those earning between over P250,000 and P2 million. “With the said reduction in the annual income tax rates, individuals earning purely compensation income will have lower withholding tax deductions from their monthly salary, thereby increasing their take-home pay,” said Bureau of Internal Revenue Commissioner Romeo Lumagui Jr.
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