Allies seek tax exemption law for Pacquiao

[Vino Kid]

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Allies seek tax exemption law for Pacquiao

ByLeila B. Salaverria
Philippine Daily Inquirer5:01 am | Thursday, December 5th, 2013



Independent lawmakers led by Buhay party-list Rep. Lito Atienza have filed a bill that would stop the government from dipping its hands into hard-earned winnings of boxing superstar Manny Pacquiao (shown in photo) and other national athletes who win prizes and awards in international competitions. AFP FILE PHOTO

MANILA, Philippines—Independent lawmakers led by Buhay party-list Rep. Lito Atienza have filed a bill that would stop the government from dipping its hands into boxing superstar Manny Pacquiao’s hard-earned winnings and those of other national athletes who win prizes and awards in international competitions.
Atienza’s bill provides tax exemptions for prizes of both amateur and professional Filipino athletes in sports competitions sanctioned by international groups or certified by the Philippine Sports Commission.
The exemption would apply to prizes and awards in all competitions earned 10 years prior to the effectivity of the proposed law. Those who had paid taxes for the prizes or awards they had received in internationally recognized competitions within the last 10 years of this act would be entitled to tax credits, the bill proposes.
In their explanatory note, the lawmakers said Pacquiao’s recent tax woes, which stemmed from his alleged failure to attach some documents about his earnings from two fights in the United States in his tax return, highlight the need to provide incentives to award-winning athletes.
These athletes bring honor to the country, and the tax break would be a fitting reward for this, they said.
The other authors of the bill are Leyte Rep. Ferdinand Martin Romualdez, Quezon Rep. Aleta Suarez, Cavite Rep. Lani Mercado-Revilla, Abakada party list Rep. Jonathan de la Cruz, La Union Rep. Victor Ortega, Surigao del Sur Rep. Philip Pichay and Camarines Sur Rep. Diosdado Macapagal Arroyo.



Read more: Allies seek tax exemption law for Pacquiao | Inquirer Sports
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kaluuy sa ordinary taxpayer

[dawlim]

mao na ni ron kita na ang katag kinsa ang mga sipsip ni manny

[psyche54]

pagkalooy ni Juan dela Cruz.

[bossdak]

busy na silag himo himog balaod nga wa nay pdaf. tag pila pud kahay bayad no pahimo kag balaod nga pabor nimo? lolz.

[Nefarian]

They can file but it needs President's approval. Hot rani karon pero ma "out of the blue" rani pohon.

[leekiaM]

stupidity strikes again. haays

[ian_1983]

House of Congress = House of Idiots

[H.Wolowitz]

believe it or not, i am actually in favor of this bill

[kit_cebu]

believe it or not, i am actually in favor of this bill

oh yeah...tax the 9-5 people earning minimum wage but not the billionaire...very nice...
you just got my vote sir..............................and sarcasm...sheldon wouldn't understand though...

[Renz8]

Tax Amnesty for Pacman at the expense of Juan de la Cruz what are this lawmakers thinking