HomeMANNY PACS TAX PROBLEMS
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dmar5143
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MANNY PACS TAX PROBLEMS
dmar5143 Thu Mar 08, 2012 1:55 pm
Tax officials in the Philippines announced Thursday they were suing boxing star Manny Pacquiao, claiming the national hero has failed to submit documents relating to his earnings to the authorities.
The Bureau of Internal Revenue said Pacquiao stands accused of contempt charges rather than charges relating to tax evasion.
Officials said Pacquiao, who also is a lawmaker in his native country, had snubbed a routine request to hand over copies of his contracts, including documents related to fights and endorsements.
BIR regional director Rozil Lozares confirmed a criminal complaint had been filed, but added: "We haven't reached to the point that he is evading taxes. We are asking him for copies of his contracts to different companies, which he has not given or has refused to give."
The BIR wants to investigate 33 tax records, including Pacquiao's annual income tax return in 2010 and his earnings from bouts with Antonio Margarito and Joshua Clottey, ABS-CBN reported.
Prosecutors in the southern city of Koronadal will examine whether there is sufficient evidence to take the matter to court, The Philippine Star reported
The Bureau of Internal Revenue said Pacquiao stands accused of contempt charges rather than charges relating to tax evasion.
Officials said Pacquiao, who also is a lawmaker in his native country, had snubbed a routine request to hand over copies of his contracts, including documents related to fights and endorsements.
BIR regional director Rozil Lozares confirmed a criminal complaint had been filed, but added: "We haven't reached to the point that he is evading taxes. We are asking him for copies of his contracts to different companies, which he has not given or has refused to give."
The BIR wants to investigate 33 tax records, including Pacquiao's annual income tax return in 2010 and his earnings from bouts with Antonio Margarito and Joshua Clottey, ABS-CBN reported.
Prosecutors in the southern city of Koronadal will examine whether there is sufficient evidence to take the matter to court, The Philippine Star reported
dmar5143- Posts : 2248
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Re: MANNY PACS TAX PROBLEMS
Frank Thu Mar 08, 2012 2:34 pm
Dmar, I read about that on the ESPN site. Also, somebody wrote an eye opening article about how fame has changed Manny over the years.
It seems to me that both Floyd and Manny think they're above the sport at this time. That's highly unfortunate. Boxing has a very cruel way of introducing these personality types to reality. The two have all the talent in the world, however both fighters have fallen victim to fame in their own way.
At this point, I think it's virtually impossible to get them in the ring to fight each other. They're both in their own worlds. I can't see how either one can keep turning in quality performances at this point, though there's a catch to that and it favors Floyd Mayweather. Floyd can have an off night however because of his defensive skills and genius ring generalship, neither the crowd, the announcer or even his opponent would pick up on it. On the other hand, Manny's best defense is his offense. If he has an off night, it's rather obvious.
Just for the sake of argument, I'll say this. If Manny does lose his next fight and Floyd wins, Floyd Mayweather has not defeated Manny Pacquiao. The same thing goes the other way as well. Common opponents do not a fight make. The only way either fighter can score a victory over the other is to go in the ring and defeat him. The P4P ratings can put one or the other on top. It doesn't prove a damn thing as to who would win if these two ever meet.
It seems to me that both Floyd and Manny think they're above the sport at this time. That's highly unfortunate. Boxing has a very cruel way of introducing these personality types to reality. The two have all the talent in the world, however both fighters have fallen victim to fame in their own way.
At this point, I think it's virtually impossible to get them in the ring to fight each other. They're both in their own worlds. I can't see how either one can keep turning in quality performances at this point, though there's a catch to that and it favors Floyd Mayweather. Floyd can have an off night however because of his defensive skills and genius ring generalship, neither the crowd, the announcer or even his opponent would pick up on it. On the other hand, Manny's best defense is his offense. If he has an off night, it's rather obvious.
Just for the sake of argument, I'll say this. If Manny does lose his next fight and Floyd wins, Floyd Mayweather has not defeated Manny Pacquiao. The same thing goes the other way as well. Common opponents do not a fight make. The only way either fighter can score a victory over the other is to go in the ring and defeat him. The P4P ratings can put one or the other on top. It doesn't prove a damn thing as to who would win if these two ever meet.
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Re: MANNY PACS TAX PROBLEMS
dmar5143 Thu Mar 08, 2012 3:23 pm
frank i just read espns report which is different and worse.it said the irs has filed a criminal complaint against pac and the da office over there will now exaime if charges will result in a trail if evidence is there...i tend to agree a bit that floyd and manny think maybe that there not above but the sport but ARE the sport in there minds.
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Re: MANNY PACS TAX PROBLEMS
powerpuncher Thu Mar 08, 2012 3:36 pm
for the longest time it was always the good guy (pac) vs. the bad guy (floyd). now its more like the bad guy (pac) vs. the worse guy (floyd).
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Re: MANNY PACS TAX PROBLEMS
dmar5143 Thu Mar 08, 2012 3:44 pm
...lol.great comparison and probably true.powerpuncher wrote:for the longest time it was always the good guy (pac) vs. the bad guy (floyd). now its more like the bad guy (pac) vs. the worse guy (floyd).
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Re: MANNY PACS TAX PROBLEMS
GrantZilla Thu Mar 08, 2012 7:39 pm
This is a mistake. Saint Manny Fights For the People!
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Re: MANNY PACS TAX PROBLEMS
NJBeatdown86 Thu Mar 08, 2012 9:24 pm
When asked for comment, Mr. Pacquiao stated:
"ehhhhhh....I um, here for the people, I just want to ehhh...make everybody happy. Uhhhh...uh...talk to ehhhhh Mr. Arum"
"ehhhhhh....I um, here for the people, I just want to ehhh...make everybody happy. Uhhhh...uh...talk to ehhhhh Mr. Arum"
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Pac trying to dodge the taxman
Guest Thu Mar 08, 2012 9:25 pm
Philippine tax officials have filed a criminal complaint against boxing champion and lawmaker Manny Pacquiao for failure to submit documents to investigators looking into his tax returns.
Prosecutors will now decide if there is enough evidence to bring the case to court, where Pacquiao could face up to two years in jail if convicted.
Bureau of Internal Revenue regional director Rozil Lozares says a complaint was filed March 1 after Pacquiao failed to submit the documents despite three notices and a subpoena.
He said Thursday that Pacquiao's 2010 tax return contained "discrepancies" considering his many businesses and endorsements.
Pacquiao was ranked by Forbes magazine last year as the world's 24th richest athlete.
Calls to Pacquiao's office went unanswered.
http://espn.go.com/boxing/story/_/id/7659808/manny-pacquiao-philippine-tax-officials-file-case-champ
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GrantZilla- Posts : 9310
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Re: MANNY PACS TAX PROBLEMS
Guest Fri Mar 09, 2012 9:45 am
GrantZilla wrote:
Perhaps Undefeated will come true now, all we need is Wlad to go to jail.
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Re: MANNY PACS TAX PROBLEMS
captainanddew Fri Mar 09, 2012 9:18 pm
dmar5143 wrote:Tax officials in the Philippines announced Thursday they were suing boxing star Manny Pacquiao, claiming the national hero has failed to submit documents relating to his earnings to the authorities.
The Bureau of Internal Revenue said Pacquiao stands accused of contempt charges rather than charges relating to tax evasion.
Officials said Pacquiao, who also is a lawmaker in his native country, had snubbed a routine request to hand over copies of his contracts, including documents related to fights and endorsements.
BIR regional director Rozil Lozares confirmed a criminal complaint had been filed, but added: "We haven't reached to the point that he is evading taxes. We are asking him for copies of his contracts to different companies, which he has not given or has refused to give."
The BIR wants to investigate 33 tax records, including Pacquiao's annual income tax return in 2010 and his earnings from bouts with Antonio Margarito and Joshua Clottey, ABS-CBN reported.
Prosecutors in the southern city of Koronadal will examine whether there is sufficient evidence to take the matter to court, The Philippine Star reported
This thing was poorly written. They appear to be pursuing contempt charges as Mr. Pacquiao's returns are being audited and he has not provided requested documentation.
All he really has to do is turn over the necessary documentation.
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Re: MANNY PACS TAX PROBLEMS
GrantZilla Wed Mar 14, 2012 3:54 am
Manny Pacquiao’s squeaky-clean image is in danger of taking a hit after the boxing star became embroiled in two public controversies in his native Philippines.
Pacquiao has been accused of housing a fugitive former politician under investigation in connection with a stolen car racket and, in a separate incident, could reportedly face two years imprisonment after tax officials started proceedings against him for contempt.
Pacquiao’s other brush with the headlines revolves around controversial Filipino figure and former head of the Presidential Anti-Smuggling Group, Mohammad “Bong” Akia. Akia, it is claimed, was last seen on a flight from Manila to General Santos City with Pacquiao several weeks ago.
In an article for Minda News, journalist Edwin Espejo cited sources claiming Akia had taken refuge in Pacquiao’s luxury residence while being hunted by police investigating his alleged sale of a stolen vehicle, one of 26 cars retrieved by police. Akia was allegedly driven to Pacquiao’s residence, where he has supposedly stayed.
Arum said he was perplexed by the incident, saying: “I can’t make heads or tails of it.”
The recent controversy will likely do little to affect Pacquiao’s status among the Filipino people, but it will do nothing to help his reputation in the political realm. Earlier this year he gained attention for having the fourth-worst attendance record of all members of the Philippines Congress.
http://tinyurl.com/79c9vew
Pacquiao has been accused of housing a fugitive former politician under investigation in connection with a stolen car racket and, in a separate incident, could reportedly face two years imprisonment after tax officials started proceedings against him for contempt.
Pacquiao’s other brush with the headlines revolves around controversial Filipino figure and former head of the Presidential Anti-Smuggling Group, Mohammad “Bong” Akia. Akia, it is claimed, was last seen on a flight from Manila to General Santos City with Pacquiao several weeks ago.
In an article for Minda News, journalist Edwin Espejo cited sources claiming Akia had taken refuge in Pacquiao’s luxury residence while being hunted by police investigating his alleged sale of a stolen vehicle, one of 26 cars retrieved by police. Akia was allegedly driven to Pacquiao’s residence, where he has supposedly stayed.
Arum said he was perplexed by the incident, saying: “I can’t make heads or tails of it.”
The recent controversy will likely do little to affect Pacquiao’s status among the Filipino people, but it will do nothing to help his reputation in the political realm. Earlier this year he gained attention for having the fourth-worst attendance record of all members of the Philippines Congress.
http://tinyurl.com/79c9vew
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Re: MANNY PACS TAX PROBLEMS
captainanddew Wed Mar 14, 2012 6:57 am
it is safe to say Manny is not very bright and the team of leeches around him is not very bright either.
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Re: MANNY PACS TAX PROBLEMS
Gumby Wed Mar 14, 2012 2:43 pm
While he's still at the top of his game, Manny does more for the Philippines as a boxer than as a politician. Congress doesn't utilize his international fame to draw attention to issues the country is facing. So they shouldn't complain about his lack of attendance. What exactly do they expect him to contribute?
Let's let the dust settle before jumping all over him. It just seems like his heart's too big and he hasn't learned the ropes of managing his $ and his political image.
Let's let the dust settle before jumping all over him. It just seems like his heart's too big and he hasn't learned the ropes of managing his $ and his political image.
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Re: MANNY PACS TAX PROBLEMS
NJBeatdown86 Wed Mar 14, 2012 5:32 pm
Sounds like he's about as active in congress as most of our big-name (always whining on cable news) congress and senators are.
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Re: MANNY PACS TAX PROBLEMS
Guest Wed Mar 14, 2012 9:17 pm
I might be tempted to put money on Bradley now.
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