Pacquiao hit by BIR charges for alleged failure to present tax records

ABS-CBNNews.com reports that the Bureau of Internal Revenue (BIR) has filed charges against Sarangani Representative and boxer Manny Pacquiao for violating Article 266 of the National Internal Revenue Code (NIRC). According to BIR regional director Rozil Lozares said they have "long asked Pacquiao to submit his tax records so the BIR can check if he has any tax deficiencies." They sent him summons on January 24.

ABS-CBNNews.com reports that the Bureau of Internal Revenue (BIR) has filed charges against Sarangani Representative and boxer Manny Pacquiao for violating Article 266*** of the National Internal Revenue Code (NIRC). According to BIR regional director Rozil Lozares said they have "long asked Pacquiao to submit his tax records so the BIR can check if he has any tax deficiencies." They sent him summons on January 24.

 

According to the report, "the BIR wants to investigate 33 tax records, including Pacquiao's annual income tax return in 2010, his book of accounts, list of assets, as well as his earnings from his fights against Antonio Margarito and Joshua Clottey." They also asked Pacquiao to submit 29 copies of his contracts for various endorsements. Pacquiao failed to bring the necessary documents to the BIR office on February 7. As such, Lozares said they were "forced to file a criminal case against Pacquiao." The case is now with the Office of the City Prosecutor in Koronadal.

 

The report noted that Pacquiao has "denied any wrongdoing." The report explained that if he is found guilty he will be "punished by a fine of not less than P5,000 but not more than P10,000 and suffer imprisonment of not less than one year but not more than two years."

 

For more on this story, log on to ABS-CBNNews.com.

***In the original report, it was later referred to as Section 266. We decided to use Article 266 because it was the term that was first mentioned.

Tell us your #feels!

Win
Yum
LOL
WTF
0
Total votes
View more stories tagged ""

Read more stories about

Comments

Latest Stories

Load More Stories