Tax Court stops BIR from collecting Manny's 3.3 billion tax
SUMMARY: Senator Manny Pacquiao won in a tax collection case against him. The Court of Tax Appeals issued an order stopping the BIR from collecting more than 3,000,000,000 from the boxer and his wife.
NEWS BY GMA: Senator Manny Pacquiao has won another fight following his knockout of Argentinian boxer Lucas Matthysse, this time against the Bureau of Internal Revenue on the collection of his alleged P3.3-billion worth of underpaid taxes pending at the Court of Tax Appeals. The tax court's First Division ordered the BIR to stop its collection of the multi-billion-peso tax deficiency against Pacquiao and his wife, Jinkee, for years 2008 and 2009 while their civil case is still ongoing. SOURCE: Pacquiao beats P3.3-B BIR suit at tax court; Published August 2, 2018 3:02pm; By JOSEPH TRISTAN ROXAS, GMA News; www.gmanetwork.com/news/money/economy/662754/pacquiao-beats-p3-3-b-bir-suit-at-tax-court
NEWS BY GMA: Senator Manny Pacquiao has won another fight following his knockout of Argentinian boxer Lucas Matthysse, this time against the Bureau of Internal Revenue on the collection of his alleged P3.3-billion worth of underpaid taxes pending at the Court of Tax Appeals. The tax court's First Division ordered the BIR to stop its collection of the multi-billion-peso tax deficiency against Pacquiao and his wife, Jinkee, for years 2008 and 2009 while their civil case is still ongoing. SOURCE: Pacquiao beats P3.3-B BIR suit at tax court; Published August 2, 2018 3:02pm; By JOSEPH TRISTAN ROXAS, GMA News; www.gmanetwork.com/news/money/economy/662754/pacquiao-beats-p3-3-b-bir-suit-at-tax-court
NEWS BY INQ: In a resolution promulgated July 27, 2018, the CTA First Division ordered the Bureau of Internal Revenue (BIR) to "cease and desist" from collecting over P3-billion worth of deficiency tax for taxable years 2008 and 2009 against the senator and his wife Jinkee. The BIR’s tax assessment which was originally P2.26 billion went up to P3.29 billion due to surcharges and penalties. SOURCE: http://newsinfo.inquirer.net/1016804/pacquiao-scores-another-victory-this-time-in-tax-court-vs-bir#ixzz5N0QhgUHi Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
WIKIPEDIA: On November 26, 2013, a few days after Pacquiao's victory over Brandon Rios, the Philippine Bureau of Internal Revenue (BIR) issued a freeze order on all of Pacquiao's Philippine bank accounts due to his alleged failure to pay ₱2.2 billion in taxes for earnings he made in his fights in the United States from 2008 to 2009. A day after the bank account freeze, the BIR also issued an order to freeze all of Pacquiao's Philippine properties, whereupon Pacquiao presented documents to the press showing the income tax for non-resident alien payment by his promoter to the BIR's US counterpart, the Internal Revenue Service, as well as a letter from Bob Arum. In April 2017, Pacquiao, now a senator, approached Philippine authorities in an attempt to settle the case. The BIR had maintained that taxes were due even if all taxes had been paid to the IRS in the first place. SOURCE: https://en.wikipedia.org/wiki/Manny_Pacquiao#Tax_evasion_case
