House okays tax exemptions for rewards, donations to athletes

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MANILA, Philippines — With 203 yes votes, the House of Representatives on Wednesday approved on third and final reading House Bill (HB) 10723 providing for tax exemptions on donations and rewards given to athletes before and after winning in international competitions.

If it becomes law, the measure would amend Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act.

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