Manny Pacquiao will not have to pay $75.2 million in taxes…yet. This is based on a recent Philippine Supreme Court ruling which stated that the government could not seize the boxer’s assets while his income tax case is being heard per Yahoo! Sports.
The tax issue was based on the claim that the Filipino boxer had unpaid taxes totaling 2.2 billion pesos (roughly $45 million U.S. dollars) in 2008 and 2009. Prior to the court ruling, Pacquiao would have had to provide a cash bond of 3.3 billion pesos ($75.2 million), which is the tax amount that is in dispute.
Per Yahoo! Sports, Pacquiao claims that he paid the 2008-2009 taxes in the U.S. and due to an agreement between the U.S. and the Philippines he did not have to pay the tax bill in the Philippines to avoid double taxation. The Philippines claims that he did not provide evidence that he paid the amount in the U.S. Even if he did pay, he’d still have debt in the Philippines because the taxes were higher in the Philippines.
Payout Perspective:
The fact that Pacquiao’s career earnings greatly exceed the $75.2 million in dispute is a red flag and something we’ve written about in the past. The great fear is that Pacquiao could end up bankrupt at the end of his career despite being one of the highest paid fighters in recent memory. Moreover, how must it look for a public official in the Philippines to have such a case for unpaid taxes. For Pacquiao’s sake, hopefully he has trustworthy attorneys and accountants that can find their way out of this mess.
Its all about politics as pacquiao belongs to the opposition party…so the administration is harassing him…he is running for a senate seat in 2016
Look at Tops squirm!! He’s desperate!!! He’s a sinking ship!!! HAHAHAHA!!!
Pacquiao tax is bigger than top ufcs salaries hahahaha…dw saving pennies loan due
Most boxers at least wait till their career is over to have financial problems lol Paqquiao is a complete fool and will be a broke bum before he gets his ass knocked out again and is through.
UFC taxes are bigger than every boxing promotions gross. HAHAHAHAHA!!
Ufc loans are the biggest in combat sports hahahaha…mma bubble bout to burst hahahahaha
That’s right, because the UFC has the CREDIT that Top Rank, GB, and those two little homos Haymen and Schaefer DO NOT!! HAHAHAHAHA!! Topps is a sinking ship!! He’s desperate!!
Yea the zuffas put up all thier real estate an casinos as collateral. You ass clown bahahaha. The will lend money to a monkey. Just like all those 7 elevens d’s relative own bahahah. Pretty soon D will be cleaning floors in his uncles store once again bahaha
Sal, no one believes your bullshit, you geriatric welfare to work, Bob Arum fag boy!! Go back to sucking his crusty balls you homo!
Daaruk, we all know whats going on, you are fighting a failing battle, look at the shitty numbers, look at all the lies, look at all the shitty fights, look at all the half empty arenas and idiots like you and shit for smashed brains and that loser anti jock itch troll cant grasp that the ufc is way way way down. Bob Arum has nothing to do with it. bahahahahahahahah Unfortunately Bob A will still be around when DW is out of the fight business. bahahaha what a shame too bad DW is such a little ego maniac, he wears lifts in his shoes to make himself taller i hear bahahahah
We all know you are failing at attempting to act like you aren’t on the welfare to work program for that crusty old fuck Arum! Stop sucking his dick you little homo!