Congress Moves to Exempt All Athlete Rewards from Taxes: A Step Towards Greater Support for National Athletes ---- KAKAMMPI

In a significant legislative development, the House of Representatives has swiftly passed a bill seeking to exempt all legitimate financial rewards and fees received by Filipino athletes from taxation. This move comes after the unfortunate fate of the "Hidilyn Diaz Bill" in 2022, which was approved by the lower house but failed to clear the Senate. Republic Act No. 10699, known as the National Athletes and Coaches Benefits and Incentives Act, provides substantial rewards to Filipino athletes who achieve podium finishes in international competitions. For example, a gold medalist receives ₱10 million, a silver medalist ₱5 million, and a bronze medalist ₱2 million. Gymnast Carlos Yulo, who recently won two gold medals, is set to receive ₱20 million, while other medalists like Peticio and Villegas will receive ₱2 million each. The law also extends benefits beyond cash incentives. Athletes and coaches are entitled to a 20 percent discount on transportation, restaurant, and hotel services, among other perks. Coaches, in particular, will receive cash incentives amounting to half of the rewards given to their athletes. Crucially, under the Tax Code, rewards received by athletes from national and international sports competitions sanctioned by their respective national sports associations are exempt from being included in gross income. This means these rewards are tax-free. However, perks or rewards given from sources other than sanctioned competitions do not automatically qualify for tax exemption and are subject to inclusion in the recipient’s gross income. Donors of cash and material rewards to athletes should also be prepared to pay donor's tax, as such rewards are considered donations and are subject to taxation. However, donations made by the House of Representatives are exempt from this tax. The proposed bill now awaiting Senate approval aims to expand tax exemptions to cover all legitimate financial rewards and fees received by athletes, addressing a crucial gap in the existing laws. Legislators are hopeful that this time, Congress will pass the bill without the setbacks encountered by the "Hidilyn Diaz Bill." Supporters of the bill emphasize the importance of providing athletes with financial relief, especially given their role in bringing honor to the country. As the bill moves through Congress, there is renewed optimism that it will finally be enacted into law, ensuring that the success stories of Filipino athletes are met with the full support of the government. The sports community is eagerly awaiting the passage of this bill, which promises to provide athletes with greater financial security and incentivize them to continue striving for excellence on the world stage.

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