BIR: Pacquiao still has over P2-B tax deficiency
Manny Pacquiao. AP FILE PHOTO
MANILA, Philippines—The Bureau of Internal Revenue (BIR) said Sarangani Representative and boxing champion Manny Pacquiao still has over P2 billion tax deficiency despite payment of P32 million.
“This amount only comprises the value added tax (VAT) and VAT surcharge component of Mr. Pacquiao’s tax deficiency for taxable years 2008 and 2009,” Henares told reporters Thursday.
She said as of Dec. 31, 2012, the deficiency of VAT was P2.2 billion.
Pacquiao has a petition with the Court of Tax Appeals questioning the BIR’s assessment.
Pacquiao’s petition has been filed at the Tax Court in August last year. A warrant of distraint and levy has been issued by the Tax Court.
Under the Tax Code, a warrant of distraint and levy (WDL) is issued to enforce collection of the assessment of tax liability of a tax payer.
But at a hearing in December last year, the BIR agreed not to enforce the WDL due to existing negotiations between them and the BIR.
The hearing continued at the Tax Court with the submission of judicial affidavits of witnesses of both camps.
The tax court has yet to rule on the case.
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