• Wed
  • Jul 23, 2014
  • Updated: 10:15am
SportOther Sport

Manny Pacquiao's promoter hits back over claims of unpaid taxes

Bob Arum says allegations of 2.2 billion pesos being owed are false and certified US paperwork is being sent to the Philippines

PUBLISHED : Wednesday, 27 November, 2013, 11:18am
UPDATED : Wednesday, 27 November, 2013, 12:39pm

Manny Pacquiao’s promoter says he expects certified US tax paperwork for the Philippine boxing hero to be received by authorities in his homeland “very soon” after they froze the fighter’s assets.

Bob Arum said that allegations of 2.2 billion pesos (HK$390 million) in unpaid taxes from US bouts in 2008 and 2009 are false and that his Top Rank agency made certain the proper money was paid to US authorities just to avoid such problems.

“Filipino authorities confirmed that Manny is not required to pay double tax,” Arum said. “If Manny paid US taxes for fights and endorsements that occurred on US soil, he is not required to pay double taxes in the Philippines.”

If Manny paid US taxes for fights and endorsements that occurred on US soil, he is not required to pay double taxes in the Philippines
Bob Arum

Pacquiao, 34, said Philippine tax bureau officials had rejected the documentation he provided to show payments had already been made to the US Internal Revenue Service, a claim Arum supported.

“For each of Manny’s fights that occurred in the United States, including those in 2008 and 2009, Top Rank withheld 30 per cent of Manny’s purses and paid those monies directly to the Internal Revenue Service (IRS) via electronic funds transfer (EFT).

“Top Rank has deposit confirmations for each payment. Top Rank has done the same for all US endorsements it has facilitated on Manny’s behalf.”

But, Arum said, Philippine officials wanted certified paperwork of those transactions from the IRS rather than deposit confirmations.

“Top Rank submitted copies of the EFT deposit acknowledgements to the Bureau of Internal Revenue [BIR] as proof of payment. The BIR received the documents but directed Manny to obtain ‘certified’ documents directly from the IRS itself.

“Obtaining certified copies of documents from the IRS takes time. Manny made the formal request to the IRS and we have every expectation that the necessary documents will be furnished to the BIR very soon.”

In the meantime, Pacquiao’s Philippine bank accounts remain frozen and he remains unable to make good on a pledge he made after taking a unanimous decision on Saturday in Macau over American Brandon Rios to help support victims of Super Typhoon Haiyan, which claimed thousands of lives in the Philippines earlier in November.

“I am not a criminal or a thief. I am not hiding anything,” Pacquiao said. “I have already paid my taxes in America. Had I not paid the correct taxes, they [US authorities] would have come after me, and I would not have been able to travel there.”

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caractacus
This could be a shake down by the notorious Philippine BIR, but if Pacquiao's agent really paid the taxes in the USA they would have been given a receipt by the IRS. Where is it? Did the agent really pay?
The history of sport and entertainment is littered with performers who were ripped off by their managers or agents.
aplucky1
why doesnt the bir check with the IRS themselves
since they rejected the ONLY Paperwork they could possibly have that any normal person would be expected to produce
do they treat every Filipino in america to the same level of scrutiny ?
blindsp
What a shame to the BIR authorities!
Too corrupt.
You have nothing to do and yet you targeted Manny Pacquaio's personal money to add on your personal pockets.
Shame on you!
blindsp
What a shame to the BIR authorities!
Too corrupt.
You have nothing to do and yet you targeted Manny Pacquaio's personal money to add on your personal pockets.
Shame on you!
 
 
 
 
 

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