Manny Pacquiao forced to borrow ₱1 million to help Yolanda victims as BIR freezes his bank accounts
He says he can’t even withdraw a cent of his own money.
Dennis Gasgonia of ABS-CBNNews.com reports that Manny Pacquiao was forced to borrow P1 million to buy the relief goods he promised to give to the survivors of typhoon Yolanda after the Bureau of Internal Revenue (BIR) issued "a warrant of garnishment, levy and distraint on his bank accounts and real properties" that effectively barred him from withdrawing money from the bank.
Earlier reports claimed that it was the Court of Tax Appeals (CTA) who ordered Pacquiao’s bank accounts to be frozen. However, the CTA denies issuing such an order. It turned out the BIR was responsible for the freeze.
The report quoted Pacquiao as saying on Tuesday (November 26) that he was forced to borrow money to make good on his promise to help typhoon victims in Tacloban City after his victory against American boxer Brandon Rios over the weekend. "The BIR has moved to issue warrants of garnishment, levy and distraint against Pacquiao in relation to the boxer's alleged failure to declare the ₱2.2 billion in taxes which he paid to the US Internal Revenue Service for the years 2008 to 2009," the article said.
Pacquiao has argued he already settled his tax obligations both with the BIR and the IRS so "forcing him to cough up additional tax money locally would mean double taxation." In an interview, the boxer also decried the supposed harassment being done to him by the BIR by garnishing his hard-earned money.
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