Valenzuela Representative Magtanggol Gunigundo I, filed a bill in the House of Representative seeking to exempt boxing champion and Sarangani Representative Manny Pacquiao from paying individual income tax for life.
The eight-division world champion in different weight categories, Pacquiao is currently embroiled in a case with the Bureau of Internal Revenue (BIR), deserves to be tax exempt for life because of the honor and recognition he has given to the country owing his boxing skills, according to House Bill 3521 (The Pacquiao Act of 2013).
Here’s a short description of the Bill’s Exploratory Note:
“This measure granting a lifetime individual income tax exemption to a Filipino who has gained outstanding international recognition in his field of endeavor will not only be a fitting expression of the nation’s gratitude to countrymen like Manny Pacquiao for his achievements an in appreciation of the honor and inspiration he has been bringing to the Filipino people,” the bill’s explanatory note said.
The bill filed by Rep. Gunigundo, once enacted into law, Pacquiao would no longer have to pay individual income tax. However, all tax payments he has remitted to the government will form part of the state coffers and shall no longer be reimbursed to him, the bill said.
Manny Pacquiao was involved in a controversial P2.2 billion tax case and the BIR ordered a freeze on his bank accounts, arising from what the bureau said were unpaid from his prize winnings for the years 2008 and 2009.
According to the Pacquiao Bill author, Rep. Gunigundo, his proposal could be the first time that such “rare privilege” would be conferred on an individual tax payer. The congressman cited, the government of Colombia who gave the same privilege to their Miss Universe 1958 title winner, Miss Luz Marina Zuluanga. Aside from the tax exemption for life, the Colombian government even built her a mansion, printed postal stamps in her honor, and declared a national holiday in her name.
