BIR: Yulo's prizes, gifts exempted from taxes

Aug 27, 2024 12:05 am

(UPDATE) OLYMPIC gold medalist Carlos Yulo need not pay taxes for the prizes, awards and gifts he received for his historic performance in the 2024 Paris Olympics, the Bureau of Internal Revenue said Monday.

'The National Internal Revenue Code (NIRC) exempts Carlos Yulo from paying taxes for the prizes, awards, rewards, gifts, or donations he received,' BIR Commissioner Romeo Lumagui Jr. said.

Olympic gold medalist Carlos Yulo. PHOTO BY MIKE ALQUINTO

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