Republic of the Philippines
HOUSE OF REPRESENTATIVES

Quezon City, Metro Manila

Seventeenth Congress
First Regular Session

HOUSE BILL NO. 4054 _

Introduced by: HON. PANTALEON D. ALVAREZ; HON. RODOLFO C.
FARINAS; HON. DANILO E. SUAREZ; HON. DAKILA CARLO E. CUA;
HON. CELSO L. LOBREGAT; HON. CONRADO M. ESTRELLA III;
HON. MICHAEL ODYLON L. ROMERO; HON. MARK AERON H.
SAMBAR; HON. ENRICO A. PINEDA; and HON. JERICHO JONAS B.
NOGRALES

EXPLANATORY NOTE

After twenty (20) years, the Philippines is again an Olympic
winner. Hidilyn Diaz, a 25-year old lass from Zamboanga City, won a
silver medal in Weightlifting in the Rio de Janeiro (Brazil) Olympics,
and brought glory and honor to our country.

Before Hidilyn’s silver medal, the last Olympic medal for the
Philippines was Mansueto “Onyok” Velasco’s Boxing silver in the 1996
Atlanta Games.

Hidilyn’s journey to Olympic glory is awe-inspiring. Coming from
a humble background, she has proven to us all that with sheer hard
work, determination and true grit, no dreamer is too small or a dream
too big that cannot be fulfilled. Hidilyn exemplified the resiliency and
tenacity of the Filipino as she bucked past Olympic failure to finally
win sporting glory in Rio for the Philippines.

Needless to say, Hidilyn Diaz and other Filipino Olympic heroes
like her deserve not only our praise but also our support. Her
success—and also her experience in her sport—will be very valuable in
developing and molding future Filipino Olympic medalists. Notably,
Hidilyn has expressed her desire to establish a gym in her hometown
where she could train young aspiring weightlifters.



It is in this light that we are proposing this measure that would
give tax incentives to those who give financial or other support to
Hidilyn Diaz and other athletes like her. Through such tax breaks, we
would like to encourage our people to support our athletes’ endeavors,
especially as they try to bring more pride and honor to the nation,
whether through personal success or by training and developing
future Filipino Olympians.

Soul,

REP. PANTALEON D/ALYAREZ REP.
Speaker

REP. hens C. FARINAS

Majority Leader

REP. DANILO E. SUAREZ REP. H. SAMBAR
Minority Leader PBA Party-list

REP. CARLO E. CUA REP. Orn cm
Chairman 1-Pacman Pé ‘ist

(ca
CELSO L. LOBREGAT REP. JI
Zamboanga City, 1“ Distrfct PBA Party-list

|AS B, NOGRALES


Republic of the Philippines

HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

venteenth Congress
rst Regular Session

54
House BILL No._ 4994

Introduced by: HON. PANTALEON D. ALVAREZ; HON. RODOLFO C.
FARINAS; HON. DANILO E. SUAREZ; HON. DAKILA CARLO E. CUA;
HON. CELSO L. LOBREGAT; HON. CONRADO M. ESTRELLA III;
HON. MICHAEL ODYLON L. ROMERO; HON. MARK AERON H.
SAMBAR; HON. ENRICO A. PINEDA; and HON. JERICHO JONAS B.
NOGRALES

AN ACT
PROVIDING TAX INCENTIVES TO INDIVIDUALS AND
CORPORATIONS GIVING DONATIONS, CONTRIBUTIONS,
AND GRANTS TO FILIPINO ATHLETES WHO HAVE WON
MEDALS IN THE SUMMER OLYMPIC GAMES, AND FOR
OTHER PURPOSES

Be it enacted by the Senate and the House of Representatives of the
Philippines in Congress assembled:

SECTION 1. Tax Exemptions and Deductions. - Any
donation, contribution, gift and grant of real and personal property to
any Filipino athlete who has won for the Philippines a bronze, silver,
or gold medal in the Summer Olympic Games shall constitute an
allowable deduction from the income of the donor for income tax
purposes and shall be exempt from donor's tax, in accordance with
the provisions of the National Internal Revenue Code, as amended:
Provided, however, That the value of each donor's donations,

contributions, gifts, or grants eligible for the tax exemption and


a“

deduction shall only be up to an amount not exceeding One Million

Pesos (PhP1,000,000.00) for one taxable year. The value of the

donation in excess of One Million Pesos (PhP1,000,000.00) shall be
subject to donor's tax and shall no longer be allowed as tax deduction.

SEC. 2. Applicability to Both Corporate and Individual
Donors. - The tax incentives provided in Section 1 hereof shall be
applicable to both corporate and individual donors. Provisions in the
National Internal Revenue Code, as amended, to the contrary
notwithstanding, individual donors shall be entitled to deductions in
their gross income for donations covered by this Act.

SEC. 3. Valuation of Property Donations. - The amount of
any donation of property other than money shall be based on the
acquisition cost of said property. However, such valuation shall take
into consideration the depreciation in the value of the donated
property in case such property has been used.

SEC. 4. Proof of Donation. - Donations, contributions, or gifts
shall be allowable as deductions under this Act only if verified in
accordance with existing rules and regulations of the Bureau of
Internal Revenue for proving charitable donations, contributions, or
gifts for purposes of tax deduction. Any product or brand
endorsement, personal service, or other consideration of any nature
given in exchange for the purported donation shall automatically
make such purported donation ineligible for the incentives under this

Act.


SEC. 5. Coverage. - Only donations, gifts, contributions, and
grants made within one (1) year from the date the Olympic medal was
won shall be eligible for the tax incentives provided in Section 1
hereof: Provided, That the grant of tax exemption and deduction
herein shall not be available for donations, gifts, contributions, or
grants to medalists in demonstration and exhibition sports events in
the Summer Olympic Games.

SEC. 6. Government Incentives.- Any award, incentive, or
grant given by the Government, its corporations, institutions,
instrumentalities and agencies, to Olympic medalists for winning an
Olympic medal shall be exempt from taxes.

SEC. 7. Retroactive Application.- The benefits of this Act shall
be applicable to awards, incentives, donations, gifts, contributions,
and grants to an Olympic medalist in the 2016 Rio de Janeiro
Olympics made prior to the enactment of this Act, provided that these
are given within one (1) year from the date the medal was won.

SEC. 8. Effectivity. - This Act shall take effect immediately
after its publication in at least two (2} newspapers of general
circulation.

Approved,