National Athletes and Coaches Benefits and Incentives Act

The Philippine men's curling team will receive a P2 million cash incentive from the government and an additional $5,000 each from the Philippine Olympic Committee (POC) following their historic gold medal win at the 9th Asian Winter Games in Harbin, China.

The Bureau of Internal Revenue (BIR) has clarified that Olympic gold medalist Carlos Yulo does not need to pay taxes on any winnings or rewards he receives, including those from the House of Representatives and President Ferdinand Marcos Jr.

The House of Representatives approved House Bill No. 10723 on Wednesday to exempt cash grants and prizes received by national athletes and coaches from taxes.

The city council of Manila plans to file a resolution declaring August 4 as Carlos Yulo Day to commemorate the gymnast's back-to-back gold medal wins at the 2024 Paris Olympics.

A bill seeking to exempt cash grants and rewards given to national athletes competing in international events from taxation has been approved on second reading at the House of Representatives.

Gymnastics star Carlos Yulo received a total of over P18 million in cash rewards and honors for his record-setting exploits at the Paris Olympics, including an additional P14.01 million from the House of Representatives on Wednesday.

President Ferdinand 'Bongbong' Marcos Jr. awarded financial incentives totaling at least P50 million to Filipino athletes who participated in the 2024 Paris Olympics during a welcome ceremony at Malacañang Palace on Tuesday.

President Ferdinand Marcos Jr. will welcome Filipino Olympic athletes back to the country on Tuesday evening with a private reception at Villamor Air Base before proceeding to Malacañang Palace for an awarding ceremony and dinner.

Aira Villegas won a bronze medal in the women's boxing 50kg event at the 2024 Paris Olympics on Wednesday, securing the Philippines' third Olympic medal and becoming the second female Filipino boxer to win an Olympic medal after Nesthy Petecio.

President Ferdinand 'Bongbong' Marcos Jr. expressed interest in meeting with Filipino gymnast Carlos Yulo to discuss how the government can support athletes and improve medal performance in future Olympics.