SC asks Pacquiao to comment on appeal vs P3B tax case | Inquirer Sports

SC asks Pacquiao to comment on appeal vs P3B tax case

/ 01:28 PM October 06, 2014

Manny Pacquiao. AP FILE PHOTO

Manny Pacquiao. AP FILE PHOTO

MANILA, Philippines–The Supreme Court ordered boxing champ Manny Pacquiao to comment on the bid of the Bureau of Internal Revenue (BIR) to lift the restraining order and pursue the collection of over P3 billion tax due including penalties and surcharges.

In a resolution, the high court gave Pacquiao 10 days to answer the motion for reconsideration filed by the BIR.

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The BIR filed a motion for reconsideration to the high court’s Aug. 22 ruling that
stopped the Court of Tax Appeals (CTA) from collecting P3 billion cash bond to P4 billion surety bond from Pacquiao and his wife Jinkee in exchange for lifting of warrant of distraint and levy and garnishment by the BIR.

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Pacquiao went to the high court after the CTA required him to either deposit a cash bond in the amount of P3,298,514,894.35 or to post a surety bond in the amount of P4,947,772,341.53 as a condition for the suspension of collection of deficiency income taxes.

The same ruling also stopped the BIR from implementing the warrant of distraint and levy against Pacquiao.

The BIR, in a separate motion, also asked the high court to set a hearing on their motion for reconsideration.

According to the BIR, Pacquiao’s tax liability was at P2.2 billion. It also said that the bond was based on the updated amount including surcharges and penalties.

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TAGS: BIR, Court of Tax Appeals, Manny Pacquiao, tax case, Tax evasion

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