Republic Acts1 min read
Section 1Sec./Art. 1
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
All prizes and awards granted to athletes in local and international sports tournaments and competitions held in the Philippines or abroad and sanctioned by their respective national sports associations shall be exempt from income tax:Provided, That such prizes and awards given to said athletes shall be deductible in full from the gross income of the donor:Provided, further,That the donors of said prizes and awards shall be exempt from the payment of donor's tax.
The benefits herein provided shall cover the XVIth Southeast Asian Games (SEA Games) held in Manila from November 25 to December 5, 1991.1шphi1
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.