Pacquiao paid less than P7 million (approximately US$162,999) in income taxes for year 2010, the chief of the Bureau of Internal Revenue said Wednesday.
Pacquiao earlier declared assets at the end of 2010 at P1.13 billion ($26.3 million) and no liabilities, making him the wealthiest member of the House of Representatives.
Forbes.com magazine estimated he spent $7 million in his election campaign in 2010 while also earning $35 million for his two fights against Joshua Clottey and Miguel Cotto.
His lawyer, Abraham Espejo, claimed the boxing champ lost several endorsement deals in the United States because of the tax case.
“[Pacquiao] has a book of accounts so he has to present that. He also has endorsements so he has to submit his contracts. He has a TV show. He has to submit his contract for that. He said he paid the [Internal Revenue Service]. Then show us the receipts,” Henares told radio .
Pacquiao also reportedly owns a shopping mall, a building-for-rent, restaurant, beauty salon, convenience store, and a water refilling station in General Santos City.
The BIR filed charges against Pacquiao early March after the boxer allegedly snubbed the agency’s summons to submit certain documents. Pacquiao was charged with violation of Section 266 of the National Internal Revenue Code (NIRC), and if convicted, he can be fined as much as P10,000 and imprisoned for two years.
No comments:
Post a Comment