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Full salary after tax calculation for Mexico based on ₱15,000.00 annual salary and the 2019 income tax rates in Mexico. Includes Health Insurance, Pension, Social Security tax rates, deductions, personal allowances and tax free allowances in Mexico.
The table below provides an overview of your wage deductions that you will typically see on a ¥0.015M salary in Mexico. You can find exact calculation which show how each of these salary deductions were calculated using income tax rates in Mexico for 2019
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Income | 15,000.00 | 1,250.00 | 1,153.85 | 576.92 | 288.46 | 59.29 | 8.24 | 100.00% |
| Social Security Contributions | 247.50 | 20.63 | 19.04 | 9.52 | 4.76 | 0.98 | 0.14 | 1.65% |
| Education Expenses | 375.00 | 31.25 | 28.85 | 14.42 | 7.21 | 1.48 | 0.21 | 2.50% |
| Medical Expenses | 750.00 | 62.50 | 57.69 | 28.85 | 14.42 | 2.96 | 0.41 | 5.00% |
| Charity Donations | 150.00 | 12.50 | 11.54 | 5.77 | 2.88 | 0.59 | 0.08 | 1.00% |
| Pension Contributions | 750.00 | 62.50 | 57.69 | 28.85 | 14.42 | 2.96 | 0.41 | 5.00% |
| Taxable Income | 12,727.50 | 1,060.63 | 979.04 | 489.52 | 244.76 | 50.31 | 6.99 | 84.85% |
| Income Tax Due | 503.54 | 41.96 | 38.73 | 19.37 | 9.68 | 1.99 | 0.28 | 3.36% |
| Total Deductions | 503.54 | 41.96 | 38.73 | 19.37 | 9.68 | 1.99 | 0.28 | 3.36% |
| Salary After Tax | 14,496.46 | 1,208.04 | 1,115.11 | 557.56 | 278.78 | 57.30 | 7.97 | 96.64% |
Note: The 2019 Mexico Tax Calculator is a new release (3rd July 2019), the tool is provided for your use, if you spot a bug, a mistake in the tax rates, thresholds or calculations OR you would like additional tax considerations added to the Mexico Salary Calculator, please contact us. We will make alterations as a priority to ensure this tool serves our users who live and work in Mexico.
Income tax in Mexico is calculated using income tax rates and thresholds, these are different for resident taxpayers and non-resident taxpayers. In this Salary Example we use the resident tax tables to produce the Mexico salary example, you can calculate non-resident salary examples on the Mexico Tax Calculator.
In order to calculate the amount of income tax due on ₱15,000.00, we first need to calculate the taxable income on ₱15,000.00. We do this be calculating specific expenses and allowances, these tax deductible items are then subtracted from the total income (₱15,000.00) to produce the taxable income.
| ₱15,000.00 | Annual Income in 2019 | |
| - | ₱ | Mexico Resident Personal Exemption in 2019 |
| - | ₱750.00 | Mexico Employee Pension contributions on ₱15,000.00 in 2019 |
| - | ₱247.50 | Mexico Employee Social Security Contributions on ₱15,000.00 in 2019 |
| - | ₱375.00 | Mexico Education Expenses in 2019 |
| - | ₱750.00 | Mexico Medical Expenses in 2019 |
| - | ₱150.00 | Mexico Charity Donations in 2019 |
| - | ₱ | Mexico Funeral Expenses in 2019 |
| = | ₱12,727.50 | Your Taxable Income in 2019 |
The table below illustrates how a taxable income of ₱12,727.50 is applied against the 2019 Income Tax Rates and Thresholds to produce the total income tax due.
| ₱ - ₱6,942.35 | 1.92% | ₱133.29 | |
| + | ₱6,942.36 - ₱12,727.50 | 6.4% | ₱370.25 |
| = | Total Income Tax Due | ₱503.54 | |
You have stated that you contribute to your pension based on a percentage contribution of your income
| ₱15,000.00 | Salary in 2019 | |
| x | 5% | Mexico Employee Pension contribution Rate in 2019 |
| = | ₱750.00 | Mexico Employee Pension contributions on ₱15,000.00 in in 2019 |
| ₱15,000.00 | Salary in 2019 | |
| x | 1.65% | Mexico Employee Social Security Contribution Rate in 2019 |
| = | ₱247.50 | Mexico Employee Social Security Contributions on ₱15,000.00 in 2019 |
| ₱15,000.00 | Salary in 2019 | |
| x | 7.58% | Mexico Employers Social Security Contribution Rate in 2019 |
| = | ₱1,137.00 | Mexico Employers Social Security Contributions on ₱15,000.00 in 2019 |
| ₱375.00 | Education Expenses incurred in 2019 | |
| ₱15,000.00 | Employment Income in 2019 | |
| x | 15% | Education Expenses Cap Rate in 2019 |
| = | ₱2,250.00 | Maximum Education Expenses that can be claimed in 2019 |
| = | ₱375.00 | Education Expenses in 2019 |
| ₱750.00 | Medical Expenses incurred in 2019 | |
| ₱15,000.00 | Employment Income in 2019 | |
| x | 15% | Medical Expenses Cap Rate in 2019 |
| = | ₱2,250.00 | Maximum Medical Expenses that can be claimed in 2019 |
| = | ₱750.00 | Medical Expenses in 2019 |
| ₱150.00 | Charitable Donations made in 2019 | |
| ₱14,700.00 | Employment Income in 2018 | |
| x | 7% | Charitable Donations Cap Rate in 2019 |
| = | ₱1,029.00 | Maximum Charitable Donations that can be claimed in 2019 |
| = | ₱150.00 | Charity Donations Expenses in 2019 |
| ₱ | Funeral Expenses incurred in 2019 | |
| ₱15,000.00 | Employment Income in 2019 | |
| x | 15% | Funeral Expenses Cap Rate in 2019 |
| = | ₱2,250.00 | Maximum Funeral Expenses that can be claimed in 2019 |
| = | ₱ | Funeral Expenses in 2019 |
We used the following information from the Mexico Tax Calculator to work out your salary after tax on your ₱15,000.00 Salary in 2019. We made estimates for the amount of expenses incurred for education and medical expenses and also the amount you give to charity. These assumptions are for the salary illustration only, you can edit these and produce your own specific salary example using the Mexico Salary After Tax Calculator
| Tax assessment year | 2019 |
| Annual Salary | ₱15,000.00 |
| Pension contributions rate | 5% |
| Employee Social Security Contribution Rate | 1.65% |
| Employer Social Security Contribution Rate | 7.58% |
| Education Expenses | ₱375.00 |
| Medical Expenses | ₱750.00 |
| Charity Donations | ₱150.00 |
| Employment Income in Mexico in 2018 | ₱14,700.00 |
| Funeral Expenses | ₱ |
| Your Age | 30 |
| Number of Children | 0 |
| Number of Children eligible for dependents deduction | 0 |
| Number of working days you work per year | 253 |
| Number of hours you work per week | 35 |
| Number of weeks worked per year for weekly calculation | 52 |
You may also find the following income tax rates for Mexico and Mexico tax calculators useful: