THE camp of Manny Pacquiao on Saturday denied the claim of the Bureau of Internal Revenue (BIR) that he has accumulated tax debts amounting to P2.65 billion since 2008.
A highly reliable source in the Pacquiao camp, who refused to be named because he is not authorized to speak on the issue, said the boxing champ’s tax lawyers in the United States have settled his obligations with the US Internal Revenue Service (IRS).
“We already settled the tax issue in the United States a long time ago and we are expecting Manny’s tax liability will lessen, but we’re surprised to hear the latest news from the BIR [that he owes P2.65 billion],” the source told The Manila Times in a phone interview.
The source did not say how much Pacquiao paid the IRS.
A day after the Filipino ring icon and congressman scored a unanimous decision victory over American Timothy Bradley on April 12 at the MGM Grand in Las Vegas, Nevada, BIR Commissioner Kim Henares reminded him that he still has a huge tax debt to settle.
Pacquiao’s lawyer Tranquil Salvador gave assurances that Pacquiao will pay all his tax obligations, including the take from his latest fight, where he reportedly earned $20 million.
Pacquiao’s lawyers also filed a petition with the Court of Tax Appeals questioning the BIR’s assessment of his tax liabilities.
Pacquiao arrived in Manila on Friday from the US.