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Pacquiao’s lawyer denies IRS tax deficiency

Posted On 2013 Dec 14
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Manny Pacquiao of the Philippines celebrates his victory over Brandon Rios of the U.S. during their World Boxing Organization (WBO) International 12-round welterweight boxing title fight at the Venetian Macao hotel in Macau November 24, 2013. Pacquiao registered a decisive, unanimous decision win against American Rios to clinch the vacant WBO International welterweight title on Sunday.

Manny Pacquiao of the Philippines celebrates his victory over Brandon Rios of the U.S. during their World Boxing Organization (WBO) International 12-round welterweight boxing title fight at the Venetian Macao hotel in Macau November 24, 2013. Pacquiao registered a decisive, unanimous decision win against American Rios to clinch the vacant WBO International welterweight title on Sunday.

MANILA (Mabuhay) — Lawyer Tranquil Salvador denied a report alleging that boxing champ Manny Pacquiao owes tax payments to the United States Internal Revenue Service (IRS).

This amid an ongoing tax collection case filed by the Bureau of Internal Revenue against Pacquiao for tax liabilities in the Philippines.

“We deny. We have no knowledge of the so-called IRS tax deficiency. We likewise stand by the order that we will not discuss the BIR case,” said Salvador, who is a good friend of the boxing champ.

Both Pacquiao and the BIR have been issued a gag order by the Court of Tax Appeals.

Another close friend of Pacquiao’s YACAP Party List Rep. Carol Jayne Lopez said the boxer also denied owing the IRS.

“Spoke with Cong. Manny and he’s stressing he doesn’t owe the US IRS anything,” she said.

Celebrity website TMZ claimed TMZ Sports “has obtained official documents which show the IRS claims Manny stiffed the government out of federal income taxes from 2006 to 2010 … totaling $18,313,668.79 in debt. “

The report says that the tax liabilities of Pacquiao in the US are broken down as follows:

2006 — $1,160,324.30
2007 — $2,035,992.50
2008 — $2,862,437.11
2009 — $8,022,915.87
2010 — $4,231,999.01

TMZ further said, “Interesting note — Manny had 3 big fights in 2008, including a match against Oscar De La Hoya in which MP reportedly banked $15-$30 million in guaranteed cash. In 2009, Manny famously fought Ricky Hatton and earned a $12 million purse.” (MNS)

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