US govt chase Pacquiao out of $18-M tax debt

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Philippine boxing champ Manny Pacquiao—being bombarded by the Bureau of Internal Revenue (BIR) claims of million-peso tax liability—is now being chased by the United States Internal Revenue Service (IRS) for the $18.3 million debt (about P800 million) incurred over years 2006 to 2010, according to TMZ Sports article.

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Based on the report, Pacquiao failed to settle his taxes over 3 big fights against Oscar dela Hoya in 2008, Ricky Hatton and Miguel Cotto in 2009, as well as his yearly tax liability in those five years.

Pacquiao and the BIR was placed under a gag order from the Court of Appeals last week because of creating uproar over the tax issue all over media reports resulting Pacquiao not to answer TMZ while the BIR did the same for The Manila Times.

Based on IRS documents retrieved by the TMZ, Pacquiao owed the IRS $1.2 million for 2006, $2 million for 2007, $2.9 million for 2008, $8 million for 2009 and $4.2 million for 2010.

Aside from the international debt, Pacquiao has also P2.2 billion-liability causing the issuance of warrant of garnishment that freezes all of his assets and accounts for the time being.

Pacquiao, being unable to get amounts from his accounts, was forced to borrow money from people to help Typhoon Yolanda (Haiyan) victims and for Christmas spending.

The next tax case hearing between Pacquiao camp and the BIR would be January 16. KRISTYN NIKA M. LAZO

 

 

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8 Comments

  1. TMZ on TV, or simply TMZ and TMZTV, is an American syndicated entertainment and gossip news television show that premiered on September 10, 2007. The program is generally aired on Fox, The CW and MyNetworkTV affiliates, though a majority of the stations that carry the series are Fox affiliates. It is essentially a television version of its sister operation, TMZ.com, a news website with a heavy emphasis on gossip of celebrities’ personal lives, which debuted in December 2005. The TV show and website are produced in a studio facility at 13031 W. Jefferson Blvd. in Los Angeles, California.[1] TMZ is an insider term (“thirty-mile zone” or studio zone) referring to the movie studio area of downtown Hollywood.
    It was announced on October 23, 2013, that TMZ on TV has been renewed through the 2016-17 season on Fox Television Stations.[2]

    Foxnews is also called fakenews.

  2. No one can receive any tax information from the IRS without the taxpayers written authorization for its release. This TMZ story in not worth the piece of paper that it is written on.

  3. Pay due to Uncle Sam if it’s true and psy what is due to Uncle Juan , common sense bringing honor.to the country, is not a passport to exempt from taxes, thus more military serving in the fields dying still paying correct taxes. Pacman deserves the best but not exemption.

  4. Keep that as it is, Gossip. This administration is used to doing it especially against its enemies. Sadly, Paquaio has fell out of P-noy’s good graces just because he is outside his KKK territory. Just imagine IRS bungling and too inept to allow somebody to run in circles around that vaunted agency? And I won’t believe that they can be that inept for years not to hound anyone who owes them such amount. This writer should use his brains and common sense before falling into the trap just to earn publicity points.

  5. TMZ is a celebrity gossip and rumor site. So I’d wait it out and see whether there is some truth in it. It’s baffling that according to the report Manny missed a part of a 2006
    payment, and now it’s already 2013 and the IRS has not taken any action against him.
    Again the newspapers are just quoting the report and has’t bothered to check with the IRS.

  6. Tongressman Pacquioa will use Gods words and say that its Baseless! Stop using Gods name in vain! Pay what is required in the Law both in the US and the Philippines. Your Boss Bob Arum is exploiting you and maybe invested your money in other way and produces a fake IRS paper. That’s the reason maybe you avoided to have your fight be held in the US because you at hand that you have problem with the IRS. Tsk Tsk poor Tongressman being exploited by people within his circle.

  7. Really? Since 2006? This is laughable, our IRS does not sleep on the job maybe in some countries, but unfortunately they don’t. We have a flagging system, and if you short pay Uncle Sam, immigration won’t allow you to enter the country until you pay up. Manny is in and out of US since 2006! Ha.ha.ha.ha.