The House Finance Committee on Monday approved proposed tax exemptions on donations for Filipino athletes representing the Philippines in international sporting events.
House committee approves bill seeking tax exemptions for national athletes in international sporting events | ANC
Committee chairman and Albay Rep. Joey Salceda said the exemption also includes donations for their training made a year before the competition and any donations routed through the Philippine Olympic Committee or the Philippine Sports Commission.
The Commission also agreed to make the exemptions retroactive to January 1, 2024.
"But let me emphasize this again: it is just symbolism, it is just public relations, to ride on the bandwagon when the victory has already been achieved. What we need to encourage is the investment that is being made in the athletes who are still working to win medals for the country," Salceda said.
