Discounts granted to national athletes welcomed

SEEING the value of recognizing the efforts of national athletes and coaches in bringing pride and honor to the country, the Bureau of International Revenue on May 27 issued implementing regulations that provide a 20% discount in the purchase of goods and services to the former, something local sports stakeholders welcomed with open arms.

Signed by Finance Secretary Carlos Dominguez III on the recommendation of Internal Revenue Commissioner Caesar Dulay, Revenue Regulations (R.R) No. 13-2020 spur further implementation of Republic Act (R.A.) 10699, the law expanding the coverage of incentives granted to national athletes and coaches.

Under R.R. 13-2020, qualified beneficiaries will be entitled to a 20% discount on goods and services, similar to those given to senior citizens and persons with disabilities.

In turn, “business establishments granting sales discounts to national athletes and coaches on their sale of goods and/or services shall be entitled to deduct the said sales discount from their gross income,” the recently released regulation reads.

Qualified beneficiaries are those who compete in international sports competitions which do not grant prize money and must be duly recognized and accredited by the Philippine Sports Commission (PSC), the Philippine Olympic Committee (POC), the Philippine Paralympic Committee and the National Sports Associations.

The law provides discounts to national team members in the purchase of goods and services like food, medicine and sports equipment. It also grants deduction on transportation fares, room accommodations, restaurants, recreation centers, cinemas, and other amusement areas.

To ensure that such regulation is enjoyed fully by the beneficiaries, the chairman of the PSC is asked to issue a Philippine National Sports Team Identification Card and Booklet (PNSTM ID and Booklet) to the national athletes and coaches.

Benefits and privileges may be availed of by those who are qualified upon presentation of these PNSTM IDs and booklets to privately owned establishments.

The regulation will take effect 15 days after publication in the official gazette or any two nationally circulated newspapers.

The law imposes penalties of up to six years in jail and a fine of P200,000 on those caught in violation.

WELCOME DEVELOPMENT

As expected, local sports stakeholders welcome the development, looking at it as long overdue to be fully implemented.

“I am happy for our national athletes and coaches that the BIR has finally approved the implementation of this law. This will be an added incentive for our athletes and coaches who bring honor and pride to our country,” said PSC Commissioner

Ramon Fernandez in an interview.

While the 20% discount for national team members was already in R.A. 10699, it was not being fully implemented, pushing athletes and officials to work hard for the strict implementation of such privilege, gaining headway in it by crafting pertinent guidelines in coordination with the BIR last year. —