AFTER the Bureau of Internal Revenue (BIR), now it’s the US Internal Revenue Service (IRS) which is running after Manny Pacquiao.
The IRS is claiming at least US$18.3 million in tax debt which the 34-year-old Filipino boxing superstar reportedly owed them for his fights held in the US from 2006 to 2010.
Entertainment website TMZ broke the exclusive report with a breakdown of Pacquiao's alleged tax debt:
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
Total: -- $ 18,313,668.79
Official documents obtained by TMZ showed the yearly breakdown of the federal income taxes which Pacquiao reportedly failed to pay, the bulk of which came in 2009 in the amount of more than US$8 million during the time when he fought Ricky Hatton and Miguel Cotto.
The report comes on the heels of a similar tax evasion case filed by the BIR against the eight-time world champion for the years 2008 and 2009 amounting to P2.2 billion counting interests and fines.
The controversy broke out shortly after Pacquiao’s successful ring return following a 12-round lopsided win over American Brandon Rios.
A case is now pending regarding the matter.
Top Rank Promotions chairman Bob Arum, however, has repeatedly denied Pacquiao has been remiss as far as his taxes are concerned, adding that everything has been taken cared of.
Incidentally, Arum, a tax lawyer before turning to a successful boxing promoter, started promoting Pacquiao in 2006, the year the IRS said the Filipino first failed to pay his federal income taxes.
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