Manny Pacquiao Ordered To Pay $50m Tax

Philippine authorities demanded that boxing great Manny Pacquiao pay a $50 million tax, as he has not provided documents proving he paid the right amount of taxes in 2008 and 2009.

Tax fight

pacquiaoThe financial battle between Pacquiao and the taxman has shocked his fans in the Philippines.

He promised to take the fight to court.

The case comes just days after he won a world welterweight championship in a comeback fight in Macau. Pacquiao’s victory was deemed as a moment of hope amid the aftermath of a deadly super typhoon.

Double taxation

Pacquiao said the Bureau of Internal Revenue demanded 2.2 billion pesos ($50.2 million) for alleged unpaid taxes in 2008 and 2009, when he was at the peak of his boxing career.

The 34 year old boxer insisted he had fulfilled his tax obligations in the United States, and so didn’t need to do so in the Philippines. He explained that a treaty between the two countries allow their citizens to avoid double taxation.

Tax commissioner Kim Henares, however, stood firm in leading the case saying that Pacquiao had failed to provide proof about his US payments.