I am in the process of being hired by a company and there are some things I would like to know better about the Philippines system but can't seem to find the information anywhere.
First, I'm a belgian citizen, living in the Philippines for the time being.
So far I get that :
- there is a minimum salary of 466PHP/day in Metro Manila
- taxes up to 32% apply to the salary
- companies can provides employees with different kinds of allowances that are not taxed (rice - transportation - clothes -living - ... allowances)
- the 13th month is mandatory, but some companies add a 14th, 15th, 16th month that are not taxed
Now, let's consider that a company is willing to pay 30.000PHP/month, what would be the best way to avoid losing too much in taxes, using allowances/additional month/ and so on?
I guess it is impossible to have the minimum salary (let's say 9.000PHP/month) + a 21.000PHP allowance or it would be too easy and every company would do this. So does anyone know the allowed balance salary/allowance?
30.000PHP seems pretty small already, so if there is a way not to lose as much as 9.000PHP every month in taxes, I would be happy to hear about it.
Thanks in advance,