^

Headlines

SC wants Pacquiao tax case expedited

The Philippine Star

MANILA, Philippines - Boxing champion Manny Pacquiao’s P2-billion tax case must be expedited.

The Supreme Court (SC) has given that order to the Court of Tax Appeals (CTA), Internal Revenue Commissioner Kim Henares told reporters yesterday.

The case against the Sarangani lawmaker arose from his supposed failure to report to the BIR tens of millions of dollars in winnings from his fights in the US, and from paying value-added tax from his local product endorsements.

The SC stopped the CTA from requiring Pacquiao and his wife to post a P3.3-billion cash bond for their alleged tax deficiency.

Henares said early resolution of the case would be in the interest of the government as well Pacquiao and his wife.

“The ball is now in the court of the CTA,” she said.

The SC has sought the Pacquiaos’ and the BIR’s comment on the issue.

Last week, the SC asked the couple to comment on the BIR motion for the lifting of the TRO.

Henares said if Pacquiao presented proof that he had paid taxes in the US, he would probably have little or no tax liability here.

Pacquiao’s American promoter, Bob Arum, said they have submitted to the BIR certifications showing that Pacquiao paid income taxes in the US.

However, Henares said she needs income tax returns that Pacquiao had filed with the US Internal Revenue Service and proof of payment of the corresponding taxes.

Arum countered that it was Henares who should have obtained those documents from the IRS, since it was easier to do so on a government-to-government basis.

In response, Henares said the taxpayer has the duty to obtain and present such documents.

Part of Pacquiao’s alleged tax delinquency is for 2008.

 

Too young to run for VP

Election lawyer Romulo Macalintal said yesterday Pacquiao cannot run for vice president in 2016 as he would only be 38 years old, having been born on Dec. 17, 1978.

In a statement, Macalintal said: 

“For sure, (Vice President Jejomar) Binay knows that to be qualified to run for the position of president and vice-president, the candidate must be at least 40 years of age on the day of election as provided under Sec. 2, Article II of the 1987 Constitution.” 

However, Pacquiao is qualified to run for senator, as the age requirement is at least 35 years old on the day of the election, Macalintal said. – Jess Diaz, Sheila Crisostomo

BOB ARUM

COURT OF TAX APPEALS

HENARES

INTERNAL REVENUE COMMISSIONER KIM HENARES

INTERNAL REVENUE SERVICE

JESS DIAZ

MACALINTAL

PACQUIAO

PART OF PACQUIAO

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with