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13Th Month Pay Tax Calculator Philippines 2021

1. In the Philippines, each month is considered as a separate taxable period.

13Th Month Pay Tax Calculator Philippines 2021

What is the 13th month pay tax in the Philippines?

In the Philippines, the 13th month pay tax is a statutory tax that is levied on an employee's total wages for the 13th month of the year. The tax is computed as a percentage of an employee's total wages for the 13th month. The tax is payable by the employee, their employer, or any other person liable for payment of income taxes. The rate of the 13th month pay tax varies depending on an employee's taxable income.

How much will you have to pay in 13th month pay tax?

In the Philippines, pay tax is payable in 13th month of the year. The amount of tax payable is based on your gross income for the 12th and 13th months. The following table shows how much you will have to pay in 13th month pay tax.

Is there any exemption for the 13th month pay tax?

In the Philippines, the 13th month pay tax is a mandatory tax that all employees must pay. The tax is calculated based on an employee’s monthly salary and is due on the last day of the month following the month in which the salary was earned. If an employee does not have their salary paid to them on time, they are required to pay a fine of 50% of their unpaid balance.
There is no exemption for the 13th month pay tax. This means that all employees—regardless of their income—must pay this tax. Additionally, any employee who fails to timely pay their 13th month pay tax will be subject to fines and penalties.

When is the 13th month pay tax due?

When is the 13th month pay tax due in the Philippines?
The 13th month pay tax is due on or before the 20th of the following month, which in 2021 will be on or before May 20. Keep in mind that any income earned and/or deposited after the due date will be subject to interest and penalties. Remember to keep accurate records so you don't incur additional fees!

What should you do if you don't have to pay the 13th month pay tax?

If you have already paid the 13th month pay tax in the previous financial year, there is no need to worry. However, if you have not yet paid this tax, you should do so as soon as possible. Failure to pay the 13th month pay tax can result in penalties and interest charges, which can be quite expensive. If you are unsure whether or not you have already paid this tax, please consult an accountant or tax specialist.

Conclusion.

The Philippines will have to pay 13th Month Pay Tax on salaries and wages earned from January 1, 2021 to December 31, 2021. The payment of the tax is mandatory for all employers with at least one employee in the country during this period. Here’s a handy pay-as-you-earn calculator that can help you calculate your tax liability:
1. Enter your total annual salary/wages (including bonuses) in pesos in the “Salary/Wages” field.
2. Enter your total number of working days during the calendar year in the “Days worked” field.
3. Choose the applicable monthly pay period: January, February, March, April, May, June, July, August or September.
4.

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