Henares hopes Pacquiao learned 'tax lessons'
MANILA, Philippines – Bureau of Internal Revenue (BIR) Commissioner Kim Henares hopes Manny Pacquiao has learned his lessons after being hit by a P2.1-billion tax deficiency case for his fight earnings in 2008 and 2009.
Pacquiao stands to earn a guaranteed $20 million for his upcoming rematch against Timothy Bradley and Henares wants the boxer to report in his 2014 income tax return the tax duties he has to pay in the US.
“Sana yung paglaban niya this time, sana natututo na ho sya kung anong nangyari sa kanya nung 2008-2009,” the BIR commissioner said in an interview on dzMM's "Dos por Dos." “Kailangang i-report niya kung anong binayaran niya sa America.”
She said Pacquiao could have avoided trouble if he was able to provide proper documentation of his payments to the US Internal Revenue Service (IRS).
Henares said that win or lose, the boxer has to pay 32% of his earnings from the fight to the BIR.
The BIR chief said this may be reduced if Pacquiao shows documents proving that he paid taxes on his earnings in the US.
“Kasi kung ginawa lang niya ho ‘yun ng tama at iniabot niya sa akin ang lahat ng documentation, maaring hindi na siya kelangang magbayad ng buwis sa Pilipinas maaring ganoon. Kelangan siya ho ang magdo-dokumento nun kung magkano ba talaga ang kinita n'ya,” said Henares.
The BIR froze Pacquiao's bank accounts last year after he was found to have allegedly failed to pay P2.1 billion in income taxes in 2008 and 2009.
Henares said the boxer has already settled his value-added taxes, but has yet to pay up for his income taxes.
“Tuloy tuloy pa rin ang garnishment namin, nakadagdag parin ho yan. ‘Yung pag-attach ng mga ari arian n’ya, andun ho naka-levy pa rin yun, yung mga propterties nya mayroon hong lien ang Bureau of internal Revenue,” she said.
Meanwhile, Pacquiao’s boxing promoter slammed Henares for reminding Pacquiao of his tax duties.
Bob Arum claimed that the BIR chief should be ashamed of herself for chasing the Filipino superstar.
“ You gotta be ashamed to yourself, lady. He is the icon of the Philippines fighting anything that he is required to do there’s no reason why he can’t do next Monday or Tuesday rather than two or three days before one of the biggest fights of his career,” he said. – With a report from Bev Llorente, ABS-CBN North America News Bureau