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Manila Bulletin devider Philippines devider National devider Panel OKs 'Hidilyn Diaz Act' granting tax-free incentive on gifts, rewards for athletes

Panel OKs 'Hidilyn Diaz Act' granting tax-free incentive on gifts, rewards for athletes

Published Aug 9, 2021 12:50 pm

The House Committee on Ways and Means has approved the substitute measure seeking to exempt from all taxes the rewards and donations given to Olympic gold medalists Hidilyn Diaz and other national athletes and their coaches which they obtained during international sports competitions.

House Bill Nos. 9888, 9891 and 9899 as well as House Resolution No. 2040, its corresponding committee report is consolidated into one substitute bill and is approved subject to style and amendments.

House Bill No. 9891 or the proposed “Hidilyn Diaz Act of 2021” seeks to amend Republic Act No. 10699 or the National Athletes and Coaches Benefits and Incentives Act.

The proposed law was filed by several lawmakers, including House Speaker Lord Allan Velasco, following Diaz’s historic win in the 2020 Tokyo Olympics after winning the women’s 55-kilogram weightlifting event.

The measure primarily seeks to exempt from all taxes, fees and charges the rewards, bonuses, and other forms of emoluments for national athletes and coaches who compete or win in international sports competitions.

The bill also ensures that the law would be implemented even without the issuance of revenue regulations for the exemption.

“No administrative omission will prevent athletes and coaches from availing of the tax benefit,” said House ways and means chair, Albay 2nd District Representative Joey Salceda, who is also one of the authors of the bill.

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Hidilyn Diaz House Ways and Means Committe tax exemption for athletes coaches House of Representatives
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