Tax Exemption on Sports Prizes

Ask AI

Republic Act No. 7549: Tax Exemption on Sports Prizes

What do you want to know about the law?
Ask AI quickly gives answers based only on the current context to avoid mistakes. Always verify with the original text.

New Chat Started

Ask AI

Title Source: Supreme Court: Tax Exemption on Sports Prizes

Law: Republic Act No. 7549

Decision Date: May 22, 1992

Republic Act No. 7549 exempts athletes from paying income tax on prizes and awards received from local and international sports tournaments, while also exempting donors of these prizes and awards from donor's tax.

END