Diaz's rewards, incentives subject to tax

by Mayvelin U. Caraballo - Catherine S. Valente

Jul 30, 2021 12:13 am

THE cash windfall and other rewards that Hidilyn Diaz will receive for winning the country's first Olympic gold will be subjected to 6-percent tax, the Department of Finance said as it rejected a proposal to exempt from taxes the incentives received by athletes and coaches who win in international tournaments.

Albay Second District Rep. Jose Maria 'Joey' Salceda filed the 'Hidilyn Diaz Act of 2021,' which seeks to amend Republic Act (RA) 10699 or the 'National Athletes and Coaches Benefits and Incentives Act.'

Philippine Olympic gold medallist Hidilyn Diaz gestures as she arrives at the Ninoy Aquino International Airport in Manila on July 28, 2021, following her return to her home country after she won gold in the women's 55kg weightlifting at the Tokyo 2020 Olympics. JAM STA ROSA / AFP

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