BY JUN RAMIREZ
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NATIONAL athletes and coaches can now enjoy 20 percent discounts in the purchase of goods and services similar to incentives granted to senior citizens and persons with disabilities (PWD).
The Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 13-2020 that implemented the law expanding the coverage of incentives granted to national athletes and coaches (Republic Act 10699).
It was signed by Finance Secretary Carlos Dominguez III on the recommendation of BIR Commissioner Caesar Dulay.
The beneficiaries are those who participate in the international sports competitions which do not grant prize money and accredited by the Philippine Sports Commission (PSC), the Philippine Olympic Committee (POC), the Paralympics Committee of Philippines (PCP) and the National Sports Association (NSA).
To avail themselves of the privilege, the PSC will issue the necessary identification card (IC) and booklets to qualified beneficiaries.
The regulations stated that those with IC shall be granted discounts and exemption from the payment of value-added, or percentage taxes by business establishments which shall also get tax discounts from gross income equivalent to the sale transactions.
It stressed that senior athletes and coaches can only claim 20 percent discount on a particular, or single sale and cannot be applied if the commercial establishments grant higher promotional discounts.
Among others, the incentive is applicable for transportation, hotels, restaurants, recreation facilities, purchases of medicines and sports equipment.
The law imposes penalties of up to six years in jail and a fine of P200,000 against the violator.
If the offender is a corporation the president will be held responsible and deportation for alien after serving the jail term.
