The Anti-Red Tape Authority (ARTA) said it will ensure the speedy processing for the turnover of the different rewards promised to Filipino Olympic Gold medalist Hidilyn Diaz.
ARTA Director-General Jeremiah Belgica made the statement following reports of many businesses pledging different rewards for Diaz for her historic win at the Tokyo 2020 Olympics on June 26.
In a statement, Belgica joined the public in congratulating Diaz for giving the country its first Olympic Gold medal.
"Bilib kami sa kanyang kasipagan at pagpupursigi (We admire her hard work and determination)," he said.
Diaz has raked in at least P40 million in cash incentives from both the public and private sectors. On Wednesday evening, President Duterte pledged to give her another P3 million, bringing her total cash earnings to P43.5 million as of July 28.
Under the National Athletes and Coaches Benefits and Incentives Act, the cash incentives that Diaz was set to receive were tax-free.
The prizes bestowed to winners in the Olympic games and other amateur competitions are tax-exempt under the Tax Code.
However, prizes coming from the private sector will be subject to a six-percent donor’s tax which will come from the donor and not from the recipient.
Belgica said the ARTA will ensure that Diaz will get her cash prizes immediately.
"Sisiguraduhin namin sa na mabilis na mapoproseso ito ng mga kinauukulan (We in ARTA will ensure that this will be processed quickly by the personalities concerned)," he said.
"Naniniwala kaming nararapat lang ito para sa karangalang ibinigay niya sa Pilipinas (We believe that she deserves this kind of service for the honor she gave to the Philippines)!" he added.