Pacquiao accused of tax evasion; bank accounts frozen by tax authorities
Fresh off his win over Brandon Rios in Macau, China, and a hero’s welcome at GenSan airport upon his arrival back in the Philippines on Monday, it was revealed that boxing superstar Manny Pacquiao has had his bank accounts frozen by the Philippines Bureau of Internal Revenue (BIR).
At a press briefing, Pacquiao said “I’ve always wanted to help the victims of the typhoon and earthquake but I was slammed by the BIR with a P2.2 billion ($50 million US) tax case which has no basis. I can’t withdraw a single cent from my own money. I can’t use it to help. BIR has garnished my money. This money did not come from PDAF or DAP, it came from every punch, sweat, and blood that I’ve earned from boxing. The BIR claims I earned more than what I actually did, without any evidence to back it up. They ignored information given by Top Rank and HBO and insisted I have earned more. My lawyers have given them all the info that they want and they still refuse to believe. I really don’t know why I am being singled out.”
Pacquiao, who earned $18 million for his fight with Rios, has suggested that the situation is politically motivated.
MANILA, Philippines (AP) -- Despite returning like a hero from beating Brandon Rios over the weekend, Manny Pacquiao said Tuesday he has no money to keep his promise to help typhoon victims because Philippine revenue authorities have frozen his bank accounts.
......... Pacquiao said if he had not paid the right taxes in the United States, he would have been arrested during one of his visits there.
''The money that was garnished by (the Bureau of Internal Revenue) is not stolen,'' he said. ''This came from all of the punches, beatings, blood and sweat that I endured in the ring.''
He said the revenue agency's claims that he earned more than what he actually did were baseless.
Revenue Commissioner Kim Henares, however, said that the only proof Pacquiao has given of his tax payments was a letter from promoter Top Rank and HBO of the taxes he has paid to the United States, but nothing from the U.S. Internal Revenue Service.
''That is self-serving and a mere scrap of paper,'' she said. ''What he can do is go to the IRS, ask IRS to certify this copy (of his tax payments) as a true copy. We have been waiting for that for two years.''
LOL @ the people who are claiming that Saint Pacquiao gave away all of his money to poor people.
Not saying that he didn't help a lot of people out, but he also blew through a bunch of cash on his side pieces and their illegitimate children, his 200+ parasite strong entourage and bad business deals that he got suckered into.
caseharts - Wait so is it the Philippines or the US going after his money?
It's the Philippines that's going after him. They claim that he's been under reporting his income earned in the US to avoid taxes. Team Pacquiao is making the laughable claim that they can't get any proof of his income generated in the US from the US government.
He purposely fought in China to avoid having to pay taxes in the US.
I wouldn't be surprised if the IRS worked in junction with the Philippines revenue service to ding him. They don't like people pulling that crap on them, he had no excuse for fighting outside of Vegas other than to evade US taxes, ie tax evasion.
They deserve the right to tax that revenue, even if it means they have to tax it through the Philippines government. In 20-25 years US will have infinite jurisdiction on this planet anyway. They just have to jump through a few hoops to obtain those funds for the time being.
Yeah thats not tax evasion. They have rules for this that he has not had the chance to evade yet.
He purposely fought in China to avoid having to pay taxes in the US.
I wouldn't be surprised if the IRS worked in junction with the Philippines revenue service to ding him. They don't like people pulling that crap on them, he had no excuse for fighting outside of Vegas other than to evade US taxes, ie tax evasion.
They deserve the right to tax that revenue, even if it means they have to tax it through the Philippines government. In 20-25 years US will have infinite jurisdiction on this planet anyway. They just have to jump through a few hoops to obtain those funds for the time being.
Why would a Filipino citizen owe the US money for a fight that takes place in China?
He purposely fought in China to avoid having to pay taxes in the US.
I wouldn't be surprised if the IRS worked in junction with the Philippines revenue service to ding him. They don't like people pulling that crap on them, he had no excuse for fighting outside of Vegas other than to evade US taxes, ie tax evasion.
They deserve the right to tax that revenue, even if it means they have to tax it through the Philippines government. In 20-25 years US will have infinite jurisdiction on this planet anyway. They just have to jump through a few hoops to obtain those funds for the time being.
Why would a Filipino citizen owe the US money for a fight that takes place in China?
He worded it wrong, it's not "tax evasion" by law. He's trying to say, manny wanted the fight in china to avoid our tax rate. Which is 100% true and admitted by Manny. He can fight wherever he wants, he chose China purely for the tax purposes.
He purposely fought in China to avoid having to pay taxes in the US.
I wouldn't be surprised if the IRS worked in junction with the Philippines revenue service to ding him. They don't like people pulling that crap on them, he had no excuse for fighting outside of Vegas other than to evade US taxes, ie tax evasion.
They deserve the right to tax that revenue, even if it means they have to tax it through the Philippines government. In 20-25 years US will have infinite jurisdiction on this planet anyway. They just have to jump through a few hoops to obtain those funds for the time being.
Why would a Filipino citizen owe the US money for a fight that takes place in China?
This. If he's not a citizen and didn't fight in the US this us stupid
He purposely fought in China to avoid having to pay taxes in the US.
I wouldn't be surprised if the IRS worked in junction with the Philippines revenue service to ding him. They don't like people pulling that crap on them, he had no excuse for fighting outside of Vegas other than to evade US taxes, ie tax evasion.
They deserve the right to tax that revenue, even if it means they have to tax it through the Philippines government. In 20-25 years US will have infinite jurisdiction on this planet anyway. They just have to jump through a few hoops to obtain those funds for the time being.
No, he has the right to fight wherever he pleases. He doesn't owe the U.S. shit, in that regard. He doesn't HAVE to fight in America, he's not even fucking American.
