Pacquiao owes 112 million

[GunRanger]

The Bureau of Internal Revenue (BIR) has rejected the appeal of world boxing champion Manny Pacquiao to either reduce or dispense with the P4.9-billion surety bond imposed by the Court of Tax Appeals (CTA) for the lifting of the BIR’s freeze order on his bank deposits, it was learned yesterday.

The BIR issued the denial two weeks ago after the tax court asked it to comment on the new request of the congressman to reduce or do away the performance bond.

Revenue lawyers cited CTA’s ruling that the surety bond may not be doubled, but can not be lowered than the BIR assessment.

They also cited Section 218 of the Tax Code which states that “no court shall have the authority to grant an injunction to restrain the collection of any internal revenue tax, fee, or charge imposed by this Code.

According to tax lawyers, the surety bond may be reduced if the litigant is indigent or incapable of paying the bond.

...
The amount could be reduced to the actual assessment of P3.9 billion if the lawmaker could produce the amount in cash.

The original assessment for the years 2008 and 2009 totaled about P2.2 billion which went up to P3.9 billion due to annual interests and surcharges.

http://www.mb.com.ph/bir-deals-pacquiao-another-blow/

With the stories he was broke before, and now this, he'll be fighting forever to pay off debts. Taxes man.

 

[Master Teacher]

as this nikka even made 112 million, he must be have penalties for years of not paying

 

[Tommy Knocks]

Floyd Won

 

[GunRanger]

as this nikka even made 112 million, he must be have penalties for years of not paying

Yes, the interest and surcharges since '08

 

[Batter Up]

 

[I'm Billy FUCO!!]

How in all of fukk is it even possible to be that much in debt

 

[the artist known az]

That can't be 112 million in US currency

 

[ℒℴѵℯJay ELECTUA]

How in all of fukk is it even possible to be that much in debt

I, I fight for Pilipino fans and put one hundred percent trust in my Premoter, Mistur Bub Aroom.

 

[Skip b]

Team Manny better sit out until Floyd calls, Manny has to understand his hand being that HBO dikkrides everything Manny and he's they only money maker................... this must be why they have rejected a 5th JMM match, and Algieri

 

[krackdagawd]

 

[Skip b]

Just realized the number nearly doubled from last year



A Mayweather fight wont even make him any money.....

 

[Tide Run This]

 

[Thatrogueassdiaz]

I, I fight for Pilipino fans and put one hundred percent trust in my Premoter, My Bub Aroom.

 

[Big Boss]

I, I fight for Pilipino fans and put one hundred percent trust in my Premoter, Mistur Bub Aroom.

 

[yoyoyo1]

I, I fight for Pilipino fans and put one hundred percent trust in my Premoter, Mistur Bub Aroom.

OH MY