Upwork & Freelance Tax Calculator

Calculate your net PHP after Upwork fees, forex spread, and the BIR 8% flat income tax rate.

Income Details (Monthly)

Currency

Total Gross Monthly Income (USD)

Expected Forex Rate (PHP per USD)

Banks typically take a ₱0.50 to ₱1.00 spread below the Google rate.

Deduct Upwork 10% Freelancer Service Fee

Gross USD$2000.00

Upwork Fee (10%)- $200.00

Net USD for Withdrawal$1800.00

Gross PHP Receipts₱103,500.00

Total Tax Due (8%)₱8,280.00

Net Take-Home Pay₱95,220.00

Earning in USD looks great until the platform fees, conversion spreads, and BIR taxes eat into your take-home pay. Here is what you need to know:

Upwork Fees: As of 2023, Upwork charges a flat 10% fee on all contracts, regardless of lifetime billings.
Forex Spread: Direct-to-Local-Bank transfers usually have a spread of ₱0.50 to ₱1.00 lower than the real-time Google rate. Using Wise or Payoneer can sometimes yield better rates.
BIR 8% Tax: If you registered with the BIR as a professional under the 8% gross receipt tax rate, you don't deduct expenses. You simply pay 8% of your gross PHP income (Note: the first ₱250,000 of your annual income is exempt, but this calculator shows the flat 8% monthly set-aside for conservative budgeting).