Update on Sen. Manny, Jinkee Pacquiao Tax Issues amounting P2.2 Billion
PACQUIAO TAX – The Court of Tax Appeals released its decision on the P2.2 billion taxes of Senator Manny and Jinkee Pacquiao.
Among the wealthiest couples in the Philippines are Sen. Manny and his wife, Jinkee, Pacquiao. Before entering politics, Pacquiao who is called “Pacman” in the boxing field has made a huge name in the sports’ international level.
Pacquiao defeated many of the boxing legends from other countries and he is the titleholder in multiple divisions. Win or lose, he gets something home in his matches which are undeniably much-awaited not only by Filipinos but by the people across the globe.
In the Philippines, a Pacquiao match is like a holiday which eases traffic on the busiest roads and keeps people in front of their televisions and computers watching the match. He has brought so much pride to the Philippines and the Filipino people.
It is no secret to the public that Sen. Manny Pacquiao came from a poor family. His successful boxing career has greatly helped him take his family out from poverty. He now owns several mansions across the nation. He also has properties in other countries.
The Senator’s wife, Jinkee, manages their households and many of their businesses across the nation. Amid the wealth of the Pacquiao family, they are face with an issue on tax.
Based on a report on ABS-CBN News, Sen. Manny and Jinkee Pacquiao are faced with a P2.2 billion tax issue. The couple filed a petition for review before the Court of Appeals against the Bureau of Internal Revenue (BIR).
Recently, the Court of Tax Appeals released a decision on the tax issue involving Sen. Manny and Jinkee Pacquiao. Based on the report, the Court of Tax Appeals Special 3rd Division released a decision granting the couple’s request for the review of the tax.
“In sum, the court finds that the subject assessment for deficiency income tax is void for violation of petitioners’ right to due process and for lack of sufficient factual basis,” the Court said in its decision.
The decision was penned and signed by Special 3rd Division Chairperson Erlinda Uy. It has the concurrence of Associate Justice Maria Rowena Modesto-San Pedro and Associate Justice Ma. Belen Ringpis-Liban.
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