The Philippine head of the Bureau of Internal Revenue Commissioner Kim Henares reminds Filipino boxing icon Manny Pacquiao to settle his previous tax deficiency, a day after he regained his WBO welterweight title against Timothy Bradley.
In an exclusive interview conducted by ABs-CBN’s DZMM, Commissioner Henares noted that she once again reminded Manny Pacquiao to settle his problem with the BIR, which has now ballooned to an estimated P2.6 billion due to interest.
According to the BIR commissioner, Manny Pacquiao’s tax deficiency was (–foul word(s) removed–)sed at P2.1 billion as of December 2012, after the government agency discovered that the Pinoy boxing icon has not been paying income taxes in the country during his previous fights from 2008 to 2009.
Commissioner Kim Henares was quoted as saying “As of December 2012, P2.1 billion. Pero may 2013, so 20% (interest) pa yan. Ngayon April, may 6.67% (interest) pa. So tumatakbo na yan… So yun P2.1 billion, madaragdagan ng P26.67% (interest). Estimate lang around P2.65 billion na (tax deficiency),” she said.
The BIR also clarified to the media that Manny Pacquiao is aware of his tax deficiency, during Manny Pacquiao’s visit to the BIR they discussed on how he can settle his tax deficiency.
The 35-year-old Manny Pacquiao already paid P32 million last January but according to the BIR the amount is just a small part of what Manny owes to the government.
Commissioner Kim Henares also noted that if Manny Pacquiao can present the needed documents that he has already paid his taxes in the United States, then there’s a possibility that the BIR will not collect taxes to Manny anymore.
The commissioner was quoted as saying “Kailangan i-report pa rin niya yun $20 million as part of his income. Pagkatapos, irereport din niya (sa BIR) kung mag-kano ang binayad niya (taxes) sa America. Kung ang binayaran niya sa US ay 40%, so $8 million, eh sa Pilipinas 32% ay $6.4 million, so ibig sabihin wala na ho siyang babayaran,” Commissioner Henares said.
