FILIPINO ring icon Manny Pacquiao asked the Supreme Court (SC) on Friday to abolish the P3-billion bond imposed by the Court of Tax Appeals (CTA) over his alleged P2.2-billion tax liability.
Pacquiao’s long-time business manager Eric Pineda told The Manila Times that Pacquiao and wife Jinkee filed the petition before the SC because the decision made by the tax court for the tax bond was very “oppressive.”
“Yes, they went to the Supreme Court and filed a petition to stop the CTA order but I can’t give you more details,” Pineda said.
The tax court ordered Pacquiao to pay the bond to cover his alleged tax liability imposed by the Bureau of Internal Revenue (BIR) amounting P 2.2 billion in 2008, which increased to P3.29 billion from penalties and surcharges.
The camp of Pacquiao claimed that the BIR investigated them without showing any piece of evidence.
“Without such proof of having been offered in evidence… respondent court [CTA] should have dispensed with the bond requirement since the validity of the fraud assessments are placed in doubt and the government’s right to collect the assessed taxes is uncertain to say the least,” the petition of Pacquiao filed before the High Court stated.