Boxing News

Pacquiao accused of tax evasion; bank accounts frozen by tax authorities

Fresh off his win over Brandon Rios in Macau, China, and a hero’s welcome at GenSan airport upon his arrival back in the Philippines on Monday, it was revealed that boxing superstar Manny Pacquiao has had his bank accounts frozen by the Philippines Bureau of Internal Revenue (BIR).

At a press briefing, Pacquiao said “I’ve always wanted to help the victims of the typhoon and earthquake but I was slammed by the BIR with a P2.2 billion ($50 million US) tax case which has no basis. I can’t withdraw a single cent from my own money. I can’t use it to help. BIR has garnished my money. This money did not come from PDAF or DAP, it came from every punch, sweat, and blood that I’ve earned from boxing. The BIR claims I earned more than what I actually did, without any evidence to back it up. They ignored information given by Top Rank and HBO and insisted I have earned more. My lawyers have given them all the info that they want and they still refuse to believe. I really don’t know why I am being singled out.”

Pacquiao, who earned $18 million for his fight with Rios, has suggested that the situation is politically motivated.

    Help Support®

    For 18 years,® has delivered daily boxing news to fight fans around the globe. From the beginning, we have always kept Fightnews free to our readers and relied on advertiser support. Anyway, the Miami Herald, The Guardian, and Wikipedia among others have been using the “crowdfunding” revenue model, so we thought we’d test it too.

    Please consider helping out. You’re not obligated to, but even a $1 pledge would really help. And if we reach our goal, we plan to upgrade our server and maybe even nuke the ads altogether. Wouldn’t that be nice?

    world boxing association

    world boxing council

    boxing news tips

    philly boxing history

    All contents copyright 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017 by Freitag Marketing Services, LLC.
    The information on this site cannot be reused without written permission.