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    Income Tax

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    GENESIS SEROMINES
    The Bureau of Internal Revenue (BIR) accused Manny Pacquiao of tax evasion, arguing he failed to declare his earnings from 2008-2009 boxing matches in the Philippines. The BIR assessed Pacquiao's tax deficiencies at ₱2.26 billion for those years. Pacquiao appealed, arguing he had already paid taxes on those earnings in the US and paying again in the Philippines would constitute double taxation. The Court of Tax Appeals eventually ruled in Pacquiao's favor, lifting sanctions from the 6-year old tax case and saying the amount the BIR sought was beyond Pacquiao's declared net worth for those years.

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    Income Tax

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    GENESIS SEROMINES
    38 views1 page
    The Bureau of Internal Revenue (BIR) accused Manny Pacquiao of tax evasion, arguing he failed to declare his earnings from 2008-2009 boxing matches in the Philippines. The BIR assessed Pacquiao's tax deficiencies at ₱2.26 billion for those years. Pacquiao appealed, arguing he had already paid taxes on those earnings in the US and paying again in the Philippines would constitute double taxation. The Court of Tax Appeals eventually ruled in Pacquiao's favor, lifting sanctions from the 6-year old tax case and saying the amount the BIR sought was beyond Pacquiao's declared net worth for those years.

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    income tax

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    income tax

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    The Bureau of Internal Revenue (BIR) accused Manny Pacquiao of tax evasion, arguing he failed to declare his earnings from 2008-2009 boxing matches in the Philippines. The BIR assessed Pacquiao's tax deficiencies at ₱2.26 billion for those years. Pacquiao appealed, arguing he had already paid taxes on those earnings in the US and paying again in the Philippines would constitute double taxation. The Court of Tax Appeals eventually ruled in Pacquiao's favor, lifting sanctions from the 6-year old tax case and saying the amount the BIR sought was beyond Pacquiao's declared net worth for those years.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    38 views1 page

    Income Tax

    Uploaded by

    GENESIS SEROMINES
    The Bureau of Internal Revenue (BIR) accused Manny Pacquiao of tax evasion, arguing he failed to declare his earnings from 2008-2009 boxing matches in the Philippines. The BIR assessed Pacquiao's tax deficiencies at ₱2.26 billion for those years. Pacquiao appealed, arguing he had already paid taxes on those earnings in the US and paying again in the Philippines would constitute double taxation. The Court of Tax Appeals eventually ruled in Pacquiao's favor, lifting sanctions from the 6-year old tax case and saying the amount the BIR sought was beyond Pacquiao's declared net worth for those years.

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    © All Rights Reserved
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    of 1

    1.What was the case all about? What is the BIR's argument?

    -The BIR was stated that Sen.Manny Pacquiao cheated tax(Tax Evasion).BIR stated
    that Sen. Manny Pacquiao was hiding some documents from his dollar winning
    fights.This statement of BIR will give us overview of tax trouble of Sen.Pacquiao (In
    2012, the BIR computed Pacquiao’s tax deficiencies for 2008 and 2009 at P2.26 billion.
    This grew to P3.3 billion after penalties. The BIR accused Pacquiao of not declaring his
    dollar winnings from his fights against Juan Manuel Marquez, David Diaz, and Oscar de
    la Hoya in 2008; and Ricky Hatton and Miguel Cotto in 2009. Pacquiao appealed the
    BIR decision to the CTA, and in 2014, the tax court said that the “amount sought to be
    collected was way beyond the petitioner’s net worth.” According to case records,
    Pacquiao’s declared net worth for those years “only amounted to P1,185,984,697.”).

    2.What were the facts of the case? What tax/es was/were assessed by the BIR? What
    was the BIR's justification for such assessment?
    -We cannot fully judge the situation because everything was only an allegation and
    (CTA) has lifted the sanction on Sen.Manny Pacquiao 6-year old tax case.BIR
    justification was Sen. Manny Pacquio did not pay taxes correctly due to hiding some
    documents on his last fight.Also BIR said that (Regarding his 2009 ITR, the BIR said
    Pacquiao did not declare any US income but only less than P50 million earned in the
    Philippines, thus the “underdeclaration.” His alleged tax liability was P2.2 billion.).

    3.What were the justifications of Pacquiao? What were the reasons cited that
    challenged the BIR's assessment?
    -The justification of Sen.Manny Pacquiao was this (The boxer said he had already paid
    the required taxes in the United States and that paying in the Philippines would equate
    to double taxation.).This statement was the challenged of BIR to Sen.Manny
    Pacquiao(The BIR accused Pacquiao of not declaring his dollar winnings from his fights
    against Juan Manuel Marquez, David Diaz, and Oscar de la Hoya in 2008; and Ricky
    Hatton and Miguel Cotto in 2009.),it was stated that Sen.Manny Pacquiao hiding
    something to BIR by not declaring his dollar winnings.

    4.Do you agree that Pacquiao must be acquitted for this alleged tax evasion? Explain.
    -If the news was transparent and if this statement will be true (When the BIR audited
    him for his 2008 and 2009 income tax returns (ITRs), Pacquiao did not submit any
    documents, prompting the agency to subpoena him),Therefore I conclude I agree that
    Sen.Manny Pacquiao will be guilty for tax evasion. But since then everything was
    alleged only then who am I/are we to judge him.

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