LEGAZPI CITY — Amid the double gold medal haul of Carlos Yulo in the 2024 Olympics, Rep. Joey Salceda said the House tax committee has approved a bill that aims to give tax exemptions for donations to national athletes competing in international sports competitions.
Salceda, chairman committee of the House Ways and Means, said that the bill aims to provide crucial support to athletes during their training period.' House Bill No. 421 not only exempts post-victory prizes but, more importantly, it exempts donations for training expenses incurred one year prior to the competition.
The lawmaker said that genuine support should focus on the investments made during an athlete's journey to victory, rather than celebratory gestures after the win.Salceda said that to ride the bandwagon when the victory has already been achieved is mere 'tokenism' and 'public relations.''What we need to incentivize is the investments being made on the athletes who are still working on winning medals for the country.
Panel Oks 'Tax Exemption' Bill
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