Found November 26, 2013 on
Los That Sports Blog:
Tweet Recently crowned welterweight boxing champ Manny Pacquiao is looked upon as a hero in his home country the Philippines, but that didn’t stop the country’s government from hitting him where it hurts; his pockets. According to Pacquiao, his bank accounts have been frozen by the Bureau of Internal Revenue, and the agency claims that he owes over $2.2 billion pesos (or about $50 million in American dollars) in back taxes from the years 2008 and 2009. “I appeal to them to remove the garnishment so that I can move and pay for my staff’s salaries,” Pacquiao told reporters in his southern hometown of General Santos city. “I am not a criminal or a thief. The money that was garnished by (the Bureau of Internal Revenue) is not stolen,” he said. “This came from all of the punches, beatings, blood and sweat that I endured in the ring.” “I really do not have any idea why I am being singled out,” said Pacquiao via the International Business Times. “My lawyers provided them all the information that they want but they refuse to believe,” he said. “They insisted that I earned more than what I actually did,” Pacquiao says that he had to borrow $1 million in pesos ($22,700) to provide relief for typhoon victims and says that he plans to borrow more for the same purpose. Manny Pacquiao is one of the highest-grossing boxers in history with over $300 million in career earnings following his victory over Brandon Rios November 23rd, but two out of 22 banks the Philippines Bureau has probed claim that Pacquiao has only made about $1.1 million pesos in deposits, or just $25,200 in US dollars. “It is unbelievable to me that he has only 1.1 million pesos,” Revenue Commission Kim Henares said. This is the second time Pacquiao has been accused of tax evasion. He was investigated for tax fraud in 2012 before the case was dropped later that year.
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Manny Pacquiao may have to fight until he’s 50 to avoid going broke, and possibly to jail.
According to ESPN.com, Pacquiao says he’s broke, and had to borrow money just to make a donation to the helpless victims of the recent typhoons in his country.
Despite returning like a hero from beating Brandon Rios over the weekend, Manny Pacquiao said Tuesday he has no money to keep his...
Manny Pacquiao might not be able to follow through on his promise to donate thousands of dollars to help the typhoon relief effort in his native Philippines, despite the fact that he just won millions after beating Brandon Rios.
The boxer apparently has no access to his money after Philippines revenue authorities recently froze his bank accounts, according to ESPN. The Bureau of...
Manny Pacquiao just got done beating up Brandon Rios in China, amidst controversy and doubters always trying to undermine his legacy. Try as you might, it’s a lot harder to expose glaring chinks in the armor of Manny, and our friends at FinancesOnline.com went so far as to prove how awesome Manny is buy making a visually appealing reminder of facts surrounding the fighter.
If Pacquiao can prove he paid taxes in the US, then the Philippine government should take the hold off his accounts.
The government wants something in writing from the IRS, Manny is photo above showing the copies of his tax returns.
Whatever the outcome, hopefully it is a wake up call for Pacquiao to be more aware of what is going on with his money, so he doesn’t end up like Mike Tyson.
As soon as Manny Pacquiao was declared the winner in his first fight back since his knockout loss to Juan Manuel Marquez by beating Brandon Rios by unanimous decision, the question once again of that megafight which has been desired by so many boxing fans was once again asked. That question is whether or not we will get a Manny Pacquiao-Floyd Mayweather Jr. fight which we as boxing...
Manny Pacquiao’s bank accounts in the Philippines have been frozen because of his tax problems. The Bureau of Internal Revenue in the Philippines says Pacquiao hasn’t proved he paid taxes in 2008-2009. They froze the accounts of his wife and assessed him $50 million in back taxes in July. Pacquiao earned his money fighting in […]
As soon as Manny Pacquiao finished off his dominating 12-round unanimous decision victory over Brandon Rios this past weekend, the questions returned to a familiar theme: Can the biggest black mark on the sport of boxing in the past 10 years, the absence of the sport’s ability to make a Pacquiao-Mayweather megafight, be finally wiped away in the near future?After Pacquiao reminded...
It's time to update the top 20 pound for pound boxing list! We've seen a lot of big action, highlighted by this weekend's Manny Pacquiao vs. Brandon Rios fight, as well as Carl Froch vs. George Groves, and that means we've made a long awaited update to our top pound for pound boxers list.
---> Continue to our updated top 20 pound for pound boxers list.
Everywhere you turned this past weekend, some fight was ending too early or too late, as the New Yorker's Kelefa Sanneh touched upon here in examining the struggle pitting quality boxing against boxer health, a subject the sport can't get away from post-Frankie Leal and post-Magomed Abdusalamov. The balance isn't easy. But let's go case by case.
Despite returning like a hero from beating Brandon Rios over the
weekend, Manny Pacquiao says he has no money to keep his promise to
help typhoon victims because Philippine revenue authorities have
frozen his bank accounts.
Click on photo to read more about Pacquiao’s return
I’m not about to jump on the Pacman bus just yet. I still think Manny would get his ass whooped by Floyd Mayweather right now. I guess we need to accept that ship has sailed, but you can be sure the media is going to have a frenzy on this one.
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