Yulo’s prizes, gifts exempted from taxes – BIR

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MANILA, Philippines — Olympic gold medalist Carlos Yulo need not pay taxes for the prizes, awards, and gifts he received for his historic performance in the 2024 Paris Olympics, the Bureau of Internal Revenue said Monday.

“The National Internal Revenue Code (NIRC) exempts Carlos Yulo from paying taxes for the prizes, awards, rewards, gifts, or donations he received,” BIR Commissioner Romeo Lumagui Jr. said.

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