Hidilyn Diaz’s cash incentives keep increasing by the day.
The Philippine Sports Commission has announced that it will be releasing an additional P5-million in cash incentives to the country’s first-ever Olympic gold medalist after breaking two records in the minus-55 kilogram category.
Diaz lifted her winning 127 kg in the clean and jerk, which brought her total to 224 kg — both of which are records.
Under Republic Act 10699 or the expanded incentives act, national athletes and other athletes who surpass Philippine record or ranking in any measurable international sports competition shall receive cash incentives, of which the PSC will determine the amount.
PSC officer-in-charge Commissioner Celia Kiram confirmed that the additional incentive already has approval and signature, and is ready for release.
This increases Diaz’s cash incentives to P48.7-million.
The government will release P10-million for winning gold, P2.5-million from Zamboanga, and P3-million from President Rodrigo Duterte.
The MVP Sports Foundation and the San Miguel Corporation will be giving Diaz P10-million each. Meanwhile, Siklab Pilipinas and deputy speaker Mikee Romero will also give P5-million and P3-million, respectively. On the other hand, Angeles City Mayor also gave P200,000.
The Bureau of Internal Revenue has assured Diaz that she won’t be taxed for the incentives she receives.
