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BIR imposes lien on Pacquiao’s Forbes Park home

Posted On 2013 Dec 03
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Manny Pacquiao seen here after winning his fight over Brandon Rios is Macau has disclosed that the Bureau of Internal Revenue wanted $50.2 million for his alleged unpaid taxes in 2008 and 2009, when he was at the peak of his career and one of the world’s highest-earning athletes. He insisted he had paid his taxes in the United States, and so did not need to do so in the Philippines because the two countries have an agreement allowing their citizens to avoid double taxation.

Manny Pacquiao seen here after winning his fight over Brandon Rios is Macau has disclosed that the Bureau of Internal Revenue wanted $50.2 million for his alleged unpaid taxes in 2008 and 2009, when he was at the peak of his career and one of the world’s highest-earning athletes. He insisted he had paid his taxes in the United States, and so did not need to do so in the Philippines because the two countries have an agreement allowing their citizens to avoid double taxation.

MANILA  (Mabuhay) – The Bureau of Internal Revenue has imposed a lien on boxing champ Manny Pacquiao’s house in posh Forbes Park, in connection with the P2.2 billion tax case.

BIR chief Kim Henares said the bureau has already put a lien on the Forbes Park property. A lien on the property means the BIR has a legal claim on Pacquiao’s property until his tax deficiency has been paid.

Asked whether Pacquiao can rent out or sell the Forbes Park property, Henares said, “Renting it is no problem. Selling it, he can. The only problem is whoever buys it, buys it with that lien on the property. (The buyer) should be aware there is a lien on that property. But (Pacquiao) can still sell it if he wants.”

Pacquiao purchased the P388-million house and lot in North Forbes Park in 2011.

The BIR is running after Pacquiao for back taxes from 2008-2009, worth over P2.2 billion (including surcharges and interest).

Last July, the BIR issued a warrant of distraint and levy on Pacquiao’s bank accounts. Henares said only two of Pacquiao’s banks accounts, which have a total of P1.1 million, were garnished.

Pacquiao has denied that only two banks were issued warrants of garnishments by the BIR.

Hindi po dalawang bangko. Marami, marami. Pati yung HSBC, biro mo. BDO, Metrobank, Chinabank, apat na iyan. Paano magigiging dalawa lang? Sila ang tumawag mismo. Mga bangko ang tumawag mismo. Sinisingil tayo ng P2.2-billion above assets and liability,” he said. (MNS)

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