¥0.015M Salary After Tax in Mexico 2019/20

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

Mexico ₱15,000.00 Income Tax Calculations for 2019
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Income15,000.001,250.001,153.85576.92288.4659.298.24100.00%
Social Security Contributions247.5020.6319.049.524.760.980.141.65%
Education Expenses375.0031.2528.8514.427.211.480.212.50%
Medical Expenses750.0062.5057.6928.8514.422.960.415.00%
Charity Donations150.0012.5011.545.772.880.590.081.00%
Pension Contributions750.0062.5057.6928.8514.422.960.415.00%
Taxable Income12,727.501,060.63979.04489.52244.7650.316.9984.85%
Income Tax Due503.5441.9638.7319.379.681.990.283.36%
Total Deductions503.5441.9638.7319.379.681.990.283.36%
Salary After Tax14,496.461,208.041,115.11557.56278.7857.307.9796.64%

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.

How to calculate income tax in Mexico on ₱15,000.00

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.

Mexico Taxable Income Calculation

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.

Mexico: Taxable Income Calculation 2019
₱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

Mexico Resident Income Tax Calculation

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.

Mexico: Resident Income Tax Calculation 2019
₱ - ₱6,942.351.92%₱133.29
+₱6,942.36 - ₱12,727.506.4%₱370.25

=Total Income Tax Due₱503.54

Mexico Pension Calculation

You have stated that you contribute to your pension based on a percentage contribution of your income

Mexico: Employee Pension contributions Calculation 2019
₱15,000.00 Salary in 2019
x5% Mexico Employee Pension contribution Rate in 2019

=₱750.00 Mexico Employee Pension contributions on ₱15,000.00 in in 2019

Mexico Employee Social Security Calculation

Mexico: Employee Social Security Contributions Calculation 2019
₱15,000.00 Salary in 2019
x1.65% Mexico Employee Social Security Contribution Rate in 2019

=₱247.50 Mexico Employee Social Security Contributions on ₱15,000.00 in 2019

Mexico Employer Social Security Calculation

Mexico: Employer Social Security Contributions Calculation 2019
₱15,000.00 Salary in 2019
x7.58% Mexico Employers Social Security Contribution Rate in 2019

=₱1,137.00 Mexico Employers Social Security Contributions on ₱15,000.00 in 2019

Mexico Education Expenses Calculation

Mexico: Education Expenses Calculation 2019
₱375.00 Education Expenses incurred in 2019

₱15,000.00 Employment Income in 2019
x15% Education Expenses Cap Rate in 2019

=₱2,250.00 Maximum Education Expenses that can be claimed in 2019

=₱375.00 Education Expenses in 2019

Mexico Medical Expenses Calculation

Mexico: Medical Expenses Calculation 2019
₱750.00 Medical Expenses incurred in 2019

₱15,000.00 Employment Income in 2019
x15% Medical Expenses Cap Rate in 2019

=₱2,250.00 Maximum Medical Expenses that can be claimed in 2019

=₱750.00 Medical Expenses in 2019

Mexico Charity Donations Calculation

Mexico: Charity Donations Calculation 2019
₱150.00 Charitable Donations made in 2019

₱14,700.00 Employment Income in 2018
x7% 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

Mexico Funeral Expenses Calculation

Mexico: Funeral Expenses Calculation 2019
Funeral Expenses incurred in 2019

₱15,000.00 Employment Income in 2019
x15% Funeral Expenses Cap Rate in 2019

=₱2,250.00 Maximum Funeral Expenses that can be claimed in 2019

= Funeral Expenses in 2019

About this tax calculation

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

Mexico Salary Example Considerations
Tax assessment year2019
Annual Salary₱15,000.00
Pension contributions rate5%
Employee Social Security Contribution Rate1.65%
Employer Social Security Contribution Rate7.58%
Education Expenses₱375.00
Medical Expenses₱750.00
Charity Donations₱150.00
Employment Income in Mexico in 2018₱14,700.00
Funeral Expenses
Your Age30
Number of Children0
Number of Children eligible for dependents deduction0
Number of working days you work per year253
Number of hours you work per week35
Number of weeks worked per year for weekly calculation52

Mexico Income Tax Rates and Salary Calculators

You may also find the following income tax rates for Mexico and Mexico tax calculators useful: