House bill granting tax exemption to Filipino athletes, coaches on rewards, incentives given, other vital proposals passed on third and final reading

Transcript

00:00A number of proposed pieces of legislation passed House Muster to include House Bill 10270

00:07that institutionalizes public school teachers' career progression.

00:11Likewise, a proposed law that exempts cash rewards, financial incentives, and gratuities

00:17bestowed on athletes for their victorious accomplishments in local or international

00:23competitions that our Melalee Sumoras details in full in this report.

00:27In recognition of the skills and talents of our very own Filipino athletes,

00:34a new proposal has been passed by the House of Representatives dedicated to them.

00:39This is House Bill No. 10723, a measure exempting Filipino athletes and their coaches from the

00:45payment of taxes on incentives, rewards, bonuses, and other forms of emoluments received.

00:51During the House plenary session yesterday, the affirmative recorded an overwhelming 203 votes,

00:56while no one voted in the negative. According to House Speaker Martin Dumaldes,

01:01the honor brought to the country by our athletes, such as Olympic gold medalists Carlos Yulo and

01:06Haidlyn Diaz, is immeasurable and priceless, so it is only right they be incentivized and

01:11provided benefits. For his part, Paranaque Second District Representative Gaston Bunting,

01:17one of the principal authors of the proposal, said he hopes the tax exemption bill will help

01:22encourage our athletes attain full potential of their athletic skills and talents.

01:27Just last week, the House also cited the athletes who completed in the 2024 Paris

01:32Olympics with several awards and incentives. Meanwhile, yesterday, the House also passed

01:37other vital proposals on third and final reading, like House Bill No. 10270,

01:43institutionalizing the career progression system for public school teachers, House Bill No. 10522,

01:49declaring October of every year as the National Esports Month, and House Bill No. 10699,

01:55providing for cheaper and more accessible internet for all.

01:59Melales Moras, from the National TV Network, for a new and better Philippines.