Senate eyes reso urging BIR to exempt from taxes Diaz’s Olympic winnings
MANILA, Philippines — The Senate is eyeing to formally urge the Bureau of Internal Revenue (BIR) to exempt from taxes the winnings of Olympic gold medalist Hidilyn Diaz worth at least P35 million.
During Wednesday’s session, Senate President Vicente Sotto III requested that the chamber’s Committee on Rules study the possibility of filing a resolution urging the BIR to exempt Diaz’s prizes from taxes.
“May I request that the Committee on Rules study the possibility of filing a resolution urging the Bureau of Internal Revenue to exempt Hidilyn Diaz from taxes from her winnings as an Olympic gold medalist,” Sotto said.
In response, Senate Majority Leader Juan Miguel Zubiri, chairman of the rules committee said his panel will look into the matter.
“We have to see if there’s legal implications or violation of law so the Committee on Rules will study that,” Zubiri added.
At present, Diaz is expected to receive a cash windfall of more than P35 million for her historic gold medal in the women’s 55-kilogram category weightlifting competition at the Tokyo Olympics.
Earlier this week, Diaz delivered the Philippines’ breakthrough gold medal, ending the country’s thirst for a gold victory in the Olympics.
The Zamboanga-born athlete also lifted a record-setting combined weight of 224kg.
Subscribe to our daily newsletter
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.