Manny Pacquiao hounded over tax affairs ahead of clash with Floyd Mayweather, Mayweather vs Pacquiao Live Streaming: Philippines government chase £33m of alleged unpaid taxes as fighter prepares for Las Vegas fight on May 2, Manny Pacquiao is being hounded by the Philippines tax department over payments stretching back seven years, in spite of being the highest tax payer in his country.
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According
to Forbes, Pacquiao earned $41.8 million (£28 million) in 2014, which
made him the number one taxpayer in the Philippines, government records
showed today. A list of top individual taxpayers for 2013, posted on the
Bureau of Internal Revenue website, put the boxer-turned-congressman at
number one with 163.84 million pesos (£2.5 million) in taxes paid. It
was about 64 per cent higher than the second-highest taxpayer. Internal
revenue chief Kim Henares confirmed that Pacquiao topped the list but
stressed that he still had a case pending over alleged non-payment of
taxes, the revenue bureau saying that Pacquiao owed up to 2.2 billion
pesos (£33 million) in unpaid taxes for 2008 and 2009, Pacquiao's
lawyers dispute this. The boxer has previously insisted he paid the 2008
and 2009 taxes in the United States, so did not need to do so in the
Philippines because the two countries have an agreement allowing their
citizens to avoid double taxation. The tax office alleges Pacquiao
failed to provide documents proving his US payments and that he may
still owe some money in the Philippines where there is a higher rate of
taxation. "The case is still ongoing. No, he has not settled. Being a
top taxpayer ... does not mean he paid the correct taxes. The two
[issues] are not synonymous," Henares said in a statement to AFP. Sky
buys up £3m TV rights for Mayweather-Pacquiao Mayweather 'dirty tricks'
concern Pacquiao camp Pacquiao, 36, a champion in eight divisions, has
generated a fortune in sport, commercial endorsements, and has even been
elected to Congress for the province of Sarangani. He also remains a
generous benefactor to schools, hospitals and personal causes, and has
stated that he is driven by fighting poverty in his country.
His forthcoming match with Floyd Mayweather on May 2, for bragging rights to being crowned as the best boxer of their generation, is expected to shatter all box office records and will generate huge sums for both boxers. Pacquiao will earn an estimated £54 million, with Mayweather due to pocket £80 million, with the pugilistic pair ranked high and highest with Forbes Magazine’s rich list of sportsmen in 2014. Mayweather was No 1, with Pacquiao at No 11. Big-earners: Floyd Mayweather and Manny Pacquiao are pocketing around £130 million between them Elsewhere, Pacquiao's physical as well as fiscal issues are being questioned. Michael Koncz, Manny Pacquiao’s chief aide, has played down reports that the boxer has suffered from leg cramps, notably in his huge calves, often cited as a source of his great movement and base for generating power. Pacquiao admitted it had bothered him in previous fights before his KO loss to Juan Manuel Marquez in 2012, but said late last week that his legs would be in perfect condition come May 2 in Las Vegas. The cramps have slowed Pacquiao in previous fights, and his coach, Freddie Roach has admitted they dealt with the issue. An anti-swelling cream for the legs has been approved by the United States Anti-Doping Agency for Pacquiao’s calves. The creme costs $1800 a time. “There’s nothing to worry about,” Pacquiao told reporters from The Philippines on Friday. Spar session: Manny Pacquiao in training Pacquiao also claimed this week that he and Roach have been working on a strategy to break down Mayweather’s renowned defence. "If it’s defence he will be relying on, I can say this early that we are ready, by planning on how to break his defence. We at the same time know how to attack him and score,” explained pressure fighter Pacquiao. Meanwhile, Mayweather’s camp have played down unconfirmed reports earlier last week that the unbeaten American’s chief sparring partner Zab Judah, a southpaw like Pacquiao, had knocked Mayweather down with a left hook to the body in training.
On Friday, Judah took to Twitter to deny the alleged incident had happened in Mayweather’s Las Vegas camp, and Leonard Ellerbe, Mayweather's adviser, added: “They (the sparring partners) are really pushing Floyd, but nothing like that. It never happened.”
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SOURCE:
http://www.telegraph.co.uk/sport/othersports/boxing/mayweather-vs-pacquiao/11501400/Manny-Pacquiao-hounded-over-tax-affairs-ahead-of-clash-with-Floyd-Mayweather.html