People’s champ and reigning WBO welterweight champion Manny Pacquiao reportedly failed to pay $18 million income tax returns (ITR) on Internal Revenue Service (IRS) according to celebrity website TMZ.
Manny Paquiao is still facing the alleged 2.2 billion tax case summoned by Bureau of Internal Revenue (BIR).
Citing the official documents, the world champion owes a total of $18,313,668.79 for unpaid income taxes from 2006-2010.
TMZ breakdown of Pacquiao’s yearly taxes:
- 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
Manny Pacquiao fought 11 times in the United States with most recorded victory against Erik Morales (twice) in 2006, Jorge Solis and Marco Antonio Barrera in 2007, Juan Manuel Marquez, David Diaz and Oscar De La Hoya in 2008, Ricky Hatton and Miguel Cotto in 2009, and Joshua Clottey and Antonio Margarito in 2010.
In his bout with Golden Boy Oscar Dela Hoya, Manny Pacquiao repoortedly took home $30 million in which stated as highest rate of payment during the fight.
Manny Pacquiao’s tax case with BIR arose from the alleged failure of Pacquiao’s accountant to submit his income tax returns roughly $2.2 billion ($50.3 million) collected by IRS from his purse for the years 2008 to 2009 and then it was followed by another alleged $18 million tax case with IRS.
Related post: Manny Pacquiao’s Bank Deposits Froozen over P2.2 Billion Tax case
Top Rank Inc. CEO Bob Arum initially submitted a copy of Pacquiao’s income tax return from the IRS to the BIR, however, BIR requested a certified true copy of his ITR.
Manny Pacquiao’s bank accounts and properties were reported garnished but despite the incident he find means in order to help survivors of super typhoon Yolanda.