Calculate the effective tax rate (in percent) of people who eam an annual income of P250,000.Answer: Suppose that the Philippine tax schedule given below is being implemented this year. (sorry, disregard the box)Tax PaymentP 1,0004,50014,000Annual IncomeP10,00030,00070,000140,000250,000500,00035,00075,000160,000

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Calculate the effective tax rate (in percent) of people who eam an annual income of P250,000. Answer:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Calculate the effective tax rate (in percent) of people who eam an annual income of P250,000.
Answer:

Suppose that the Philippine tax schedule given below is being implemented this year. (sorry, disregard the box)
Tax Payment
P 1,000
4,500
14,000
Annual Income
P10,000
30,000
70,000
140,000
250,000
500,000
35,000
75,000
160,000

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