GMA News Online
Economy
»
Finance

Pacquiao must settle taxes from upcoming Bradley rematch – BIR chief  Henares

April 4, 2014 6:54pm
A rematch with American Timothy Bradley is not the only thing Sarangani Representative and boxing icon Manny Pacquiao should gear up for – or else he's up for another re-match, this time against the BIR chief.

"First he should make sure his documentation is in order... He should include his winnings from his fight," Bureau of Internal Revenue (BIR) Commissioner Kim Jacinto-Henares told GMA News Online by phone Friday.

"And if he paid taxes in another country, he should show the receipt, so it will be considered as tax credit," she added.

Pacquiao and Bradley are set for a rematch on April 12 (April 13, PHL time), where the title of World Boxing Organization welterweight champion is on the line.

"By this time, he should know. Matagal na namin siyang sinabihan about his taxes," Henares said.

On January 30, the BIR chief said Pacquiao has paid the agency P32 million in back taxes, small  compared with his P2.2-billion liability.

"The P2.1 billion tax liability still stands and is growing because what he paid was just the value-added tax," Henares said on Friday.

The Pacquiao couple and the BIR were caught in a word war last November 2013 when the boxing champ complained of political persecution by the BIR after his bank accounts were frozen.

Pacquiao and his wife Jinkee questioned the BIR's calculation of their purported P2.2-billion liability.
 
On Aug. 1, 2013, Pacquiao asked the Court of Tax Appeals (CTA) to review the tax deficiency claimed by the BIR against him and his wife.
 
The couple then filed on Oct. 18 an urgent plea to lift the warrant issued by the BIR and asked the CTA to stop the bureau from issuing further warrants against them. – VS, GMA News
Go to comments



We welcome healthy discussions and friendly debate! Please click Flag to alert us of a comment that may be abusive or threatening. Read our full comment policy here.
Comments Powered by Disqus