BIR to Pacquiao: Properly pay taxes in Mayweather bout

By ABS-CBN News

MANILA, Philippines – The Bureau of Internal Revenue (BIR) expects Sarangani Rep. and boxing icon Manny Pacquiao to have learned from his tax battle with the bureau, and accurately settle and report his taxes in connection with his much anticipated bout with Floyd Mayweather, Jr. in May.

BIR Commissioner Kim Henares said Pacquiao should properly and accurately report to the BIR the taxes he will be paying the United States Internal Revenue Service (IRS), and submit supporting documents authenticated by the Philippine Embassy in the US.

Henares also reminded Pacquiao to withhold taxes from salaries and other payments he makes to his employees and staff.

Pacquiao and the BIR are in a legal battle in connection with his alleged deficiency income tax and value-added tax (VAT) assessments for taxable years 2008 and 2009 amounting to P2.2 billion.

Pacquiao will meet Mayweather in a mega-fight in Las Vegas on May 2.

3 Comments on this post.

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  • kikay Pang0
    27 February 2015 at 4:11 pm - Reply

    Every punch he throw is now taxable ….

  • Juan
    27 February 2015 at 8:33 pm - Reply

    Henares, bilisan ang collection, PNOY will be out as President on or before 2016.BIR tax estimate kay MPac owes 80M Dollars, ang laki naman. I understand you need huges retirement also, magpapa areglo kaya sa iyo si MPac.

  • Generoso Magaoay
    27 February 2015 at 10:22 pm - Reply

    Since all the due taxes are taken out as soon as the boxing match is over here in the U.S., why is it that anally overzealous smiley Henarez is so eager to receive supporting papers to the Bureau of Internal Revenue when all they can get is a piece of paper. Sometimes, i would like to say that it’s Pacquiao’s fault for not being able to defend himself. Being the Sarangani Representative, he lacks the political know-how, confidence and the voice in defending his name against Henarez unnecessary claim.

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