National athletes and coaches to enjoy 20% discount on goods, but face cuts in allowances
MANILA, Philippines — Good news and bad news for national athletes and coaches.
Members of the Philippine team will soon enjoy a 20% discount on all goods, commodities and services as the Bureau of Internal Revenue released its revenue regulation letter signed by Department of Finance secretary Carlos Dominguez III and BIR commissioner Caesar Dulay.
This bit of welcome development, however, came on the same day the PSC mulled the possibility of reducing their monthly stipend after the Philippine Amusement and Games Corporation reportedly remitted only P9 million for the month of April.
It was a big slash from the P120-million remittance the government sports-funding agency has been receiving in the past as mandated by law.
“There is a chance there will be a big reduction in the allowance,” a source told The STAR.
Also part of its belt-tightening measures was the non-extension of contracts of some foreign coaches after this month.
And the list could get longer.
Feeling the impact of the COVID-19 pandemic, the PSC had to cancel all programs and events like the 10th ASEAN Para Games, the Philippine National Games, Batang Pinoy and national sports summit among others.
But because Pagcor had remitted P150.75 million last March, including P99.42 million the same month, the Nationals were ensured their monthly allowances were safe.
It didn’t last long.
They could, however, console themselves with the fact they would receive discounts on goods, medicine, transportation, services and even from restaurants, hotels and movie theaters while establishments that will grant discounts will, in turn, receive tax relief.
The regulations will take effect 15 days after it is published two national dailies.