Is Hidilyn Diaz going to be taxed for her prizes?

After Hidilyn Diaz gave the Philippines its first-ever Olympic gold medal last Monday, people have been wondering if she will still be taxed for her rewards that were said to amount to more than P30 million.

In an interview with Arnold Clavio on “Unang Balita,” Philippine Olympic Committee (POC) president Bambol Tolentino said Hidilyn can expect to receive the full P10 million cash incentive from the national government tax-free, in accordance with Republic Act No. 10699.

However, the POC chief had yet to say the same for Hidilyn’s other rewards coming from private entities.

“Pinapa-ano ko na po kung magfa-file ako ng exemption po for that. Sa donor’s tax,” he told Arnold Clavio on Wednesday’s “Unang Hirit.”

“‘Yung sa gobyerno, ‘yun pong galing sa national government na 10 million, five and two, wala na pong tax ‘yun. But those coming from private, baka po taxable, so we will be filing an exemption for that,” he added.

Diaz made history as the first Filipino to win a gold medal at the Olympic games after ruling the women's 55-kg weightlifting event at the 2020 Tokyo Olympics last Monday.

As it was previously reported, the MVP Sports Foundation has pledged to give an additional P10 million for Diaz’s win.

Tolentino also said in a Philippine Sportswriters Association forum that business tycoon Ramon S. Ang will give P10 million for every gold in the Tokyo 2020 Olympics.

Meanwhile, athlete, sports patron, and Rep. Mikee Romero also pledged P3 million for the gold medal winners in Tokyo, summing up her initial prizes to at least P33 million.

Aside from cash, Tolentino had also said Hidilyn is also set to receive, among others, a house and lot in Tagaytay and condominium unit in Eastwood City. — Margaret Claire Layug/LA, GMA News