Limpag: Pacquiao vs. BIR will have ugly ending-A A +A
Friday, November 29, 2013
I BELIEVE Manny Pacquiao when he says he’s confident that he has paid his taxes. I believe that’s what he was told by the people in charge of his finances.
But does that mean Manny really settled everything?
That is something else.
Manny Pacquiao has a team, in fact, he started this Team (name of boxer) practice in boxing. Imagine that, a team in an individual sport. You should hear the stories of the Team, about some bickering on who gets to be close with whom and who has the final say on things.
In one training camp, even those who are in the inner circle of the team came to blows. And that tells a lot about the dynamics of the team.
I won’t be surprised if, in the next few weeks, there will be drastic changes in the composition of Team Pacquiao. (Remember, due to his advisers, he signed a contract with Golden Boy Promotions while he was with Top Rank.)
One other thing. Then, a lot of people were hoping Manny would sign with Golden Boy as a lot of fans assumed Bob Arum was one of those promoters who would take advantage of a boxer’s ignorance in accounting. Now, Pacquiao fans who want to see their idol absolved from this legal woe must hope that Arum really did pay Manny’s taxes in the US.
By the way, at least this dispute has raised awareness on how much a boxer really gets from his purse and if the BIR computed Manny’s taxes based on what was announced, it may have erred.
It was announced that Manny was supposed to get $18 million for the Brandon Rios fight but that’s not really right. Of that $18 million, there’s a cut for Freddie Roach, for Bob Arum and of course, for taxes due to the host country. That’s true for all boxers, some of whom have to give a cut to their managers.
How much does a boxer really get? Sometimes it depends on the promoter’s honesty. And there are promoters who are very kind and honest to their boxers that they stand as godparents, while there are some who would be willing to sell their souls for an extra buck.
I mean, if the world of boxing was so transparent, there’s no need for a Muhammad Ali act in the US boxing circuit right? The act essentially hopes to make sure the boxers don’t get screwed.
So, if Manny Pacquiao got screwed by his accountants and lawyers, as is some of the sentiments, and in turn, the BIR is after him, man, that has to hurt more than the Juan Marquez knockout.
So I hope the rest of the Pinoy boxers, like what they always do, learn from Manny Pacquiao. When it comes to your money and taxes, make sure your affairs are in order.
BANGON VISAYAS. CIS will host the Bangon Visayas Football Cup on Sunday.
This is a fund-raising event aligned with the GMA Kapuson Foundation. The proceeds of the tournament will be used to purchase building materials for 130 families in Northern Cebu.
The event is sponsored by CIS, CFA, Eric Rafael Construction and Convergys.
The companies who signed up for the men’s division are NCR FC, Timex FC, Convergys and Leylam with two teams each, while ePerformax, Lexmark, SSI United, United Health Group, Teletech, Makoto, Lear, Accenture, Sykes, Nakanishi, KNF and Erco have one each.
The ladies division will have NCR, Lexmark, Convergys,Timex, accenture, Nakanishi, SSI United and Velez Med United.
Published in the Sun.Star Cebu newspaper on November 30, 2013.