‘Pacman exemption’-A A +A
Thursday, December 5, 2013
MANILA — Amid the legal woe over Sarangani Rep. Manny Pacquiao’s supposed unpaid taxes, one of the boxing icon’s colleagues in Congress has proposed a law granting a lifetime tax exemption on Pacquiao.
The Bureau of Internal Revenue (BIR) had earlier issued a warrant of garnishment on Pacquiao’s bank accounts for the boxer’s alleged failure to pay taxes worth P2.2 billion in 2008 and 2009.
In House Bill 3521 or “The Pacquiao Act of 2013,” Valenzuela Rep. Magtanggol Gunigundo proposes that the government confers a life-time individual tax exemption to Pacquiao for giving the Filipino people “outstanding honor and pride.”
“He is a gifted athlete with knockout punch, lighting-fast speed, outstanding
footwork, dexterity and solid chin. He is electrifying, exciting and a phenomenon.
This is a fitting expression of a nation’s gratitude for his achievements and in appreciation of the honor and inspiration he has brought to Filipino people,” Gunigundo said.
An income tax is a tax on a person’s income, emoluments, profit arising from property, practice of profession, conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997.
“In the face of defeat, he exemplifies the Filipino spirit’s resolve with his discipline, perseverance and commitment to success. His generosity and desire to help, using his hard earned money, is also noteworthy,” the lawmaker added.
Pacquiao’s legal dispute with the BIR came out in news reports after his comeback victory against American Brandon Rios in Macau last November 24. (Sunnex)
Published in the Sun.Star Cebu newspaper on December 06, 2013.