Aside from the 2.2 billion pesos tax fight in the Philippines, boxing champ Manny Pacquiao is yet again facing another unpaid tax issue.
TMZ reported that they were able to obtain official documents from the United States Internal Revenue Services (IRS) showing that Pacquiao didn’t pay $18,313,668.79 in federal income taxes in the US from 2006-2010.
The celebrity website released the breakdown of the tax deficiency:
2006 -- $1,160,324.30
2007 -- $2,035,992.50
2008 -- $2,862,437.11
2009 -- $8,022,915.87
2010 -- $4,231,999.01
As of now, the Bureau of Internal Revenue in the Philippines has been running after Pacquiao after it discovered that the boxer didn't pay an estimate of $50 million (P2.2 billion) for his 2008 and 2009 fights that happened in the United States.
It can be recalled that the boxing champ competed against Oscar De La Hoya and Ricky Hatton in 2008 and 2009 where he received $15-30 million and $12 million, respectively.
Tranquil Salvador, Many Pacquiao’s lawyer, denied TMZ’s report. He said that they have no knowledge regarding the tax deficiency in the US and that they stand by the order that they will refrain from discussing the BIR case.
Meanwhile, BIR chief Kim Henares stated that they have not received any confirmation from the US tax agency. She also thinks that the problem stemmed from lousy bookkeeping.
On an interview with DZMM’s rated Korina, Henares said that "Ang analysis ko doon ay maaring it came out of the other rumor that he's a green card holder. Kasi if you're a green card holder, if you're a non-resident, you only pay for your US income. But if you're a resident in US, pati ang income mo sa Pilipinas, kailangan i-report din. I believe that's where it's coming from. Whether it's true or not, only the IRS can say that."
Pacquiao earlier denied that he is a green card holder nor have a permanent resident status.
"Mga contrata at documentation nila hindi ayos. Yun ang nagiging problema. Kung nagiging problema nila sa Pilipinas ay ganun din magiging problema nila sa America" (Their contracts and documents are not in order. That's the problem. If they had that problem in the Philippines, then they will also have the same problem in America) ... What I can foresee is if their bookkeeping is as bad as what we see here, magkakaproblema ho talaga siya (he will really have a problem)," Henares added.
On previous reports, Pacquiao claimed that he has paid his taxes in the US as it should be. According to Bob Arum, CEO of the boxing promotion company that has been managing Pacquiao’s fights Top Rank Inc., they already provided certified true copies of Pacquiao's tax returns in the US to his lawyers in the Philippines. He said that as a former tax lawyer himself, who used to work for the Department of Justice tax division in New York, it has been his job to take taxes dutifully.
BIR has frozen Pacquiao’s accounts in the Philippines as regards to the BIR case the champ is facing.
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