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The House of Representatives approved on third and final reading on Wednesday the bill granting tax exemption s on rewards and incentives for Filipino athletes and their coaches.House Bill 10723 was approved by 203 lawmakers with no opposition or abstentions.
The required period to avail of the tax exemptions, however, does not apply to donations, rewards, and contributions made through the Philippine Sports Commission , the Philippine Olympic Committee , or the Philippine Paralympic Committee .Speaker Martin Romualdez, in a statement, said the proposed measure is a fitting reward for athletes who brought pride and honor to the country.
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