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Mexico vs Philippines Tax Comparison
Side-by-side comparison of tax rates and systems
Tax Rate Comparison
Rate Comparison
Top Income Tax
Mexico35%
Philippines35%
Corporate Tax
Mexico30%
Philippines25%Lower
Capital Gains
Mexico35%
Philippines15%Lower
VAT / Sales Tax
Mexico16%
Philippines12%Lower
| Category | Mexico | Philippines |
|---|---|---|
| Tax System | Progressive | Progressive |
| Top Income Tax | 35% | 35% |
| Corporate Tax | 30% | 25% |
| Capital Gains | 35% | 15% |
| VAT / Sales Tax | 16% | 12% |
| Crypto Tax | Yes | No |
| Wealth Tax | No | No |
| Tax Treaties | 60 | 43 |
| Currency | MXN | PHP |
The bottom line: Mexico vs Philippines
Philippines has the lower headline rate on 3 of the four main taxes (income, corporate, capital gains and VAT), making it the lighter-taxed of the two on paper. Mexico runs a progressive tax system, while Philippines uses a progressive one. On crypto, Philippines is the more favourable — it does not tax cryptocurrency gains. Mexico has the wider tax-treaty network (60 agreements), which can reduce withholding tax on cross-border income.
- Income tax: identical in both (35%)
- Corporate tax: Philippines is lower (30% vs 25%)
- Capital gains tax: Philippines is lower (35% vs 15%)
- VAT / sales tax: Philippines is lower (16% vs 12%)