Taal Volcano view in Tagaytay. Taal Volcano is a complex volcano on the island of Luzon in the Philippines. Historical eruptions are concentrated on Volcano Island, an island near the middle of Lake Taal. The lake partially fills Taal Caldera, which was formed by powerful prehistoric eruptions. Viewed from Tagaytay Ridge, Taal Volcano and Lake presents one of the most picturesque and attractive views in the Philippines.