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Tax exemption with retroactive effect sought on cash rewards, incentives for Olympic medalists


Published August 4, 2021, 10:49 AM
Senator Pia Cayetano is seeking the grant of tax exemptions on the rewards and donations to be given to Olympic medalists and their coaches.
Senator Pia Cayetano sponsors on July 27, 2021 a resolution commending weightlifter Hidilyn Diaz, Philippines’ first Olympic gold medalist. (Office of Senator Cayetano)
Cayetano on Tuesday, August 3, filed Senate Bill No. 2341, which calls to amend the country’s tax code to exempt all cash incentives, rewards, and donations received by Olympic medalists and their coaches from taxes, fees and charges imposed by the government.
“While incentives received by the athletes are exempted from tax as provided for in Section 32 of the National Internal Revenue Code, those received from the private sector are still subject to six percent donor’s tax,” Cayetano, who chairs the Senate Ways and Means Committee, noted in her bill. ....

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Pia Cayetano vows swift passage of bill correcting tax rates of private schools


Published August 3, 2021, 2:05 PM
Senator Pia Cayetano on Tuesday, August 3 vowed to expedite the passage of the bill that seeks to clarify the controversy regarding the preferential tax rates of private schools.
Cayetano, who chairs the Senate Ways and Means Committee, said she is now waiting for the transmittal of the House of Representative’s version of the bill to the Senate so the Upper House can swiftly pass the bill into law.
“Since tax bills must emanate from the House, we will await the transmittal of the House version. But I do believe it will be an easy bill to pass,” Cayetano said. ....

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