Discounts for national athletes, coaches set to be implemented
MANILA, Philippines—National athletes and coaches are now given the same 20 percent discounts in the purchase of goods and services similar to what senior citizens enjoy.
Bureau of Internal Revenue has released Revenue Regulations no. 13-2020 granting such incentives and it will take effect 15 days after the publication in two newspapers on Friday.
Beneficiaries of RR. no. 13-2020 are those who have participated in international sports competitions that do not grant prize money and are athletes that are accredited under the Philippine Sports Commission, Philippine Olympic Committee, Paralympics Committee of the Philippines, and their respective National Sports Associations.
Finance Secretary Carlos Dominguez III signed the regulation after the recommendation of BIR Commissioner Caesar Dulay.
The PSC will issue the national athletes and coaches the necessary identification cards and booklets for them to avail of the 20% discount.
Athletes and coaches are eligible for the discount when they pay for transportation, hotels, resorts and other similar establishments, restaurants, recreation centers, medicine and drug purchases, sports equipment purchases, and admission fees.
The BIR, however, stressed that senior athletes and coaches can only claim their 20% discount on a particular sale and cannot be applied if the establishment would grant a higher markdown.
Violators will face six years in jail and a fine of P200,000 and if the president of the said corporation is a foreigner then he or she will then be deported as an alien after serving time in the correctional facility.
Get the hottest sports news straight into your inbox
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.