Pacquiao owes IRS $18M – report
Manny Pacquiao. AP FILE PHOTO
MANILA, Philippines—Boxing champion Manny Pacquiao’s tax woes are getting complicated.
Entertainment website TMZ has reported that Pacquiao has $18, 313, 668.79 in tax debt that he owes to the Internal Revenue Services.
Pacquiao’s new problems emerged after his current P2.2-billion tax debt to the Bureau of Internal Revenue was revealed by Commissioner Kim Henares last month.
TMZ has acquired official documents from IRS showing Pacquiao has tax debts from 2006 through 2010.
The year-by-year breakdown is as follows:
2006 — $1,160,324.30
2007 — $2,035,992.50
2008 — $2,862,437.11
2009 — $8,022,915.87
2010 — $4,231,999.01
Pacquiao dismissed the report as part of demolition job against him.
“This is no doubt part of demolition job against me. I don’t know why there are people who want to destroy me. It’s not true I owe IRS $18 million in back taxes,” Pacquiao told the Philippine Daily Inquirer by phone.
Just a few days back, he said, an article claiming that he is a green card holder came out.
“It was meant to discredit me. I’m not a green card holder,” Pacquiao said.
On the US tax issue, Pacquiao said: “How could it be? Top Rank Promotions is deducting IRS taxes automatically before giving or releasing my purse. In the US, taxes are immediately deducted from your income.”
The boxer-lawmaker could not say who are the people and what is the motive behind the demolition job against him.
“Even before I could climb up the ring, right inside my dressing room, IRS people are already waiting. So, how could I escape from paying my taxes?” Pacquiao said.
He said Top Rank big boss Bob Arum had already taken appropriate action in the US to clarify the issue.
“Bob Arum had already issued statements in the US to set the record straight. I’m confident this issue will be cleared up,” Pacquiao said.
The boxing icon said he’s taking this issue as another challenge, a test to his faith.
“When God and truth are on our side, who can put us down? I know these are all part of the tests to gauge the strength of my faith in Him,” Pacquiao said. With a report from Aquiles Z. Zonio, Inquirer Mindanao
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