Philippine court dismisses tax lawsuit against Manny Pacquiao | Boxing News

MANILA: Philippine Boxing legend Manny Pacquiao on Friday won a years-long battle in court to avoid paying tens of millions of dollars in additional taxes after an appeals court dismissed a case against him.
Pacquiao and his wife Jinkee was charged in 2012 by the Bureau of Internal Revenue for owed more than 2.2 billion pesos ($37 million) in unpaid taxes in 2008 and 2009.
The 43-year-old previously insisted he had already paid taxes in the US, so there was no need to do so in the Philippines as the two countries already have an agreement that allows their citizens to avoid double taxation.
Then the president Benigno Aquino is conducting a tough campaign against tax evasion as part of a joint crackdown against corruption.
Pacquiao, a former world champion and politician, has become one of the highest targets of the tax agency’s crackdown.
But the Tax Court of Appeal found the tax agency relied on “unverified articles” to base its assessment.
In its 49-page judgment, the court said “the assessment of the shortfall in income tax is void because it violates the right to due process and lacks a factual basis”.
The ruling was made on September 29 but appears to have only been announced on Friday.
Pacquiao, who reportedly ranked among the country’s top individual taxpayers in 2008 and 2009, welcomed the decision.
“Since the beginning of my career, I have made sure to pay all of my taxes because it helps our government,” he said in a statement.
“I thank God that the truth has been revealed.”
AFP could not reach the tax office for comment. It is not known if it plans to appeal the decision.
Pacquiao, who retired from Boxing last year for the tilt in the presidency of the Philippines, deeply admired for rising out of poverty to become one of the world’s greatest and richest warriors.
However, he also received a lot of derision for his support of former president Rodrigo Duterte’s deadly drug war, homophobic comments and lack of education.
Pacquiao has been gearing up for a charity match with martial arts YouTuber DK Yoo scheduled for December 10 in Seoul.
He ended his 26-year boxing career with a one-point defeat to Cuban Yordenis Ugas in August 2021 and, as well as a former senator, failed earlier this year to become one president of his country.
According to Senate data, Pacquiao’s net worth is nearly $54 million in 2020.


News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button