Manny’s many woes-A A +A
Wednesday, December 11, 2013
IT SEEMS there’s no end to Manny Pacquiao’s tax woes as he allegedly still owes a whopping sum in taxes to the US from 2006 to 2010.
According to TMZ.com, the 34-year-old former pound-for-pound king owes the Internal Revenue Services (IRS) a total of $18,313,668.79 or P7.5 billion in taxes from his fights in the US.
Pacquiao was earlier sued by the Bureau of Internal Revenue (BIR) for unpaid taxes to the Philippine government from 2008 to 2009 of a total of P2.2 billion. Pacquiao and his camp, including his promoter Bob Arum, has said that the fighting congressman has already paid his dues in the US.
TMZ.com broke down Pacquiao’s alleged debt to the IRS – $1,160,324.30 in 2006; $2,035,992.50 in 2007; $2,862,437.11 in 2008; $8,022,915.87 in 2009; and $4,231,999.01 in 2010.
Pacquiao fought 11 times in the US from 2006 to 2010. He fought Erick 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.
One of Pacquiao’s biggest paydays from 2006 to 2010 was when he faced de la Hoya in 2008 and he reportedly earned between $15 to $30 million.
However, two confidants of Pacquiao denied the issue.
“We deny. We have no knowledge of the so-called IRS tax deficiency. We likewise stand by the order that we will not discuss the BIR case,” said lawyer Tranquil Salvador in a report posted on the ABS-CBN website.
Pacquiao fought last month in Macau, his first outside the US since a tune-up bout with Oscar Larios in Quezon City in 2006. When he returned to the Philippines, Pacquiao announced that his bank account was frozen by the BIR because of tax concerns.
Published in the Sun.Star Cebu newspaper on December 11, 2013.