AFTER VICTORY, PACQUIAO GETS REMINDED BY BIR: DECLARE RIGHT INCOME

Revenue commissioner Kim Henares continued to bug Manny Pacquiao over rightfully declaring his income after the boxing champion’s welterweight victory against Timothy Bradley, “I just want to remind him that he should have learned from his experience in 2009, and that he should just report everything and submit official documents,” Henares told INQUIRER.net in a phone interview on Monday. Henares made the statement as she reminded the boxer of the time the Bureau of Internal Revenue (BIR) went after him for over P2.2 billion in taxes from his earnings in matches from 2008 to 2009.She also told the welterweight champion to declare his income from his fight with Bradley, and not repeat his experience in 2009 when he allegedly undeclared his income after two fights that year.On his 2009 income tax return, Henares said Pacquiao did not declare any US income but only less than P50 million earned in the Philippines, thus the “underdeclaration.” Pacquiao’s tax obligations that year amounted to P1.433 billion. “If he does not show official documents, that this is what he paid the (United States’) IRS (Internal Revenue Service), then he cannot get the deductions, he has to pay the whole amount,” Henares said.

ALSO: Pacquiao, Henares in shootfest
Aquino pairs squabbling duo in Palace shoot event.
Given their verbal tit for tat a few weeks ago, getting boxing champion Manny Pacquiao and Revenue Commisioner Kim Henares together in a place teeming with firearms might not have been the best of ideas. But President Aquino might have been thinking counterintuitively when he invited Pacquiao on Dec. 21 to the Presidential Security Group compound’s firing range inside the Malacañang complex in Manila to take part in a practical shooting competition. Not only was the eight-division champion invited to the event, he was also paired by Aquino with fellow shooting enthusiast Henares for the competition, a regular Saturday activity for the President. On same team “So we ended up as partners, shooting for the same team,” said the BIR chief in a telephone interview. “It was the President’s idea, I think.”

(ALSO) Freddie Roach: I’m satisfied; Manny Pacquiao did well

Manny Pacquiao may have failed to score a knockout win over Timothy Bradley but he did more than enough to satisfy his chief trainer, Freddie Roach. The six-time Trainer of the Year said he saw Pacquiao’s grim determination to finish off Bradley but the American was just too tough to nail on the canvas. Still, the convincing unanimous decision win was enough to make Roach happy.
“I’m satisfied,” said Roach, who had hoped for a Pacquiao victory by stoppage, at his Wild Card Gym on Monday. “He did well.” MORE...


ALSO: Manny Pacquiao in PBA? If so, he’ll wear No. 17

HOLLYWOOD—Manny Pacquiao sure is giving serious thought to this plan of making it to the Philippine Basketball Association (PBA). He already has a jersey number picked out. “No. 17,” revealed the global boxing icon and congressman. Pacquiao’s birthday is Dec. 17. “I might play in the PBA with Kia,” Pacquiao told Filipino sportswriters, confirming a story that came out in a news outlet that one of the three expansion teams accepted by the PBA would hire him. Kia, the universal Korean car brand, NLEX and Blackwater (Ever Bilena) were accepted as expansion clubs recently, bringing the PBA roster total to 13. Pacquiao clarified, however, that nothing is definite yet. According to a Team Pacquiao member privy to the negotiations, the deal will most likely involve an endorsement package.


READ FULL MEDIA REPORTS HERE:

After victory, Pacquiao gets reminder from BIR : Declare right income

MANILA, APRIL 21, 2014, (INQUIRER)

MANILA, Philippines – Revenue commissioner Kim Henares continued to bug Manny Pacquiao over rightfully declaring his income after the boxing champion’s welterweight victory against Timothy Bradley,

“I just want to remind him that he should have learned from his experience in 2009, and that he should just report everything and submit official documents,” Henares told INQUIRER.net in a phone interview on Monday.

Henares made the statement as she reminded the boxer of the time the Bureau of Internal Revenue (BIR) went after him for over P2.2 billion in taxes from his earnings in matches from 2008 to 2009.

She also told the welterweight champion to declare his income from his fight with Bradley, and not repeat his experience in 2009 when he allegedly undeclared his income after two fights that year.

On his 2009 income tax return, Henares said Pacquiao did not declare any US income but only less than P50 million earned in the Philippines, thus the “underdeclaration.” Pacquiao’s tax obligations that year amounted to P1.433 billion.

“If he does not show official documents, that this is what he paid the (United States’) IRS (Internal Revenue Service), then he cannot get the deductions, he has to pay the whole amount,” Henares said.

“He has to declare what he earned in the US and what he paid the US government,” she added.

Henares said Pacquiao should declare his earnings from his latest fight in his second quarter income tax return in August.

Pacquiao, the country’s richest congressman as Sarangani district representative, won Sunday’s fight against Bradley in a unanimous decision, reclaiming the crown after his controversial defeat to the American boxer in 2012.

EARLIER REPORT

Pacquiao, Henares in shootfest By Daxim L. Lucas, Aquiles Z. Zonio Inquirer Mindanao, Philippine Daily Inquirer 10:05 pm | Tuesday, December 31st, 2013

Aquino pairs squabbling duo in Palace shoot event


WHO WILL WIN? Boxing superstar Manny Pacquiao accuses Revenue Commissioner Kim Henares of harassing him. But Henares claims Pacquiao did not declare his US income and underdeclared his Philippines income in 2008-2009. RICHARD BALONGLONG/INQUIRER NORTHERN LUZON; ANDREW TADALAN/INQUIRER FILE PHOTO

Given their verbal tit for tat a few weeks ago, getting boxing champion Manny Pacquiao and Revenue Commisioner Kim Henares together in a place teeming with firearms might not have been the best of ideas.

But President Aquino might have been thinking counterintuitively when he invited Pacquiao on Dec. 21 to the Presidential Security Group compound’s firing range inside the Malacañang complex in Manila to take part in a practical shooting competition.

Not only was the eight-division champion invited to the event, he was also paired by Aquino with fellow shooting enthusiast Henares for the competition, a regular Saturday activity for the President.

On same team

“So we ended up as partners, shooting for the same team,” said the BIR chief in a telephone interview. “It was the President’s idea, I think.”

Friendly engagement

Communications Secretary Herminio Coloma said the President invited Pacquiao when the latter made a courtesy call recently.

“Friendly engagement simply proves that the President does not harbor any ill will against Representative Pacquiao despite the fact that the BIR (Bureau of Internal Revenue) is making him accountable for reported deficiencies in his income tax payments.

“Joining a sports activity where the President is present does not stop or deter the BIR from pursuing its case against Representative Pacquiao,” Coloma said in a statement.

Pacquiao—who is also a congressman representing Sarangani province—has been slapped with a P2.2-billion bill by the BIR, which alleges that he failed to pay taxes for his income from boxing in recent years. For this, tax authorities have ordered local banks to freeze his accounts.

This prompted Pacquiao to call a press conference, saying that he was being harassed by local authorities for taxes that had supposedly been settled in the United States. [The US Internal Revenue Service itself has issued a levy on Pacquiao’s US bank accounts to recoup more than $18 million in alleged tax liabilities from 2006 to 2010.]

Penalties

The ensuing media war, in which both sides made increasingly acrimonious and inflammatory statements, prompted the Court of Tax Appeals (CTA) early last month to impose a gag order on both camps pending the resolution of the tax cases.

The P2.2 billion covers allegedly unpaid taxes plus penalties for incomes—winnings from his fights, earnings from pay-per-view cable services that aired the fights and earnings from endorsements—in 2008 and 2009.

Penalties accounted for about half of the tax liability assessment.

Unpaid tax liabilities may be slapped a maximum 50-percent surcharge and an annual interest of 20 percent, according to the Tax Code.

Following his alleged failure to respond to the BIR’s tax assessment, the BIR in July issued a warrant of distraint and levy on the two bank accounts of Pacquiao worth P1.1 million.

The move was aimed at getting hold of the money as partial payment for his alleged tax liabilities.
Gag order honored

Pacquiao then immediately filed a motion in the CTA to contest the tax assessment and to prevent the BIR from getting hold of his money.

The Pacquiao camp and the BIR later agreed to pursue an out-of-court negotiation over the P2.2-billion tax case, prompting the CTA to issue a gag order.

The gag order was honored during the shooting competition in Malacañang, with neither party bringing up the tax issue.

“We didn’t discuss his case,” Henares said. “We didn’t talk shop, just like I never talk shop with the President during these Saturday sessions at the firing range, unless I’m asked to.”

Instead, both devoted their efforts to producing the best scores for their team on the pistol range.

Henares described the boxer as “proficient” with a firearm, although she pointed out that there were trade-offs in his shooting performance.

“He’s accurate in hitting his targets … but when he’s accurate, his speed suffers,” she said, describing a common condition in practical shooting. “And when he’s fast, his accuracy suffers.”

Pacquiao Shooting Cup

Pacquiao—who was earlier reported to have over 100 firearms registered in his name, many of which are carried by his security personnel—showed up at the firing range without his usual large entourage, but only with two staffers in tow.
Their results at the end of the day were not bad. “We won one set and we lost another,” Henares said.

Almost every year, the boxer-lawmaker holds the Manny Pacquiao Shooting Cup, the latest taking place the first week of December where he gave out 30 9mm and .40-cal. Glock pistols as prizes.

A range officer who asked not to be named said Pacquiao, as a shooter, was OK.

Shooting range in Maasim

“As a shooter, I would say Pacman is OK. He can shoot,” the source said.

In Mindanao, Pacquiao has the most advanced shooting range in his beach resort in Tinoto, Maasim town, in Sarangani.

“It’s a 15-stage shooting range—the first of its kind in Mindanao. It’s still being developed. We just held a level 3 shooting competition there last Dec. 5 to 7,” the source added.

Henares refused to speculate on why Aquino paired her with Pacquiao for the shootfest, but she described the event as “enjoyable.”

With civility

She also declined to speculate on the results had the President decided to pit her against the boxing champion on opposing shooting teams.

“I don’t think the President is that theatrical,” said the BIR commissioner, who has been receiving lessons from the President himself.

Henares described the practical shooting competition as a friendly game.

“It is separate and distinct from any legal obligation of Mr. Pacquiao under the law. It does not detract or add to his obligation. It will not in any way affect how he will be treated, which is the same way as others will be treated. He was a guest and I was also a guest so we treated each other accordingly—with civility,” she said in a text message on Tuesday.—With a report from Christian Esguerra

Freddie Roach: I’m satisfied; Manny Pacquiao did well By Roy Luarca Philippine Daily Inquirer 12:08 am | Wednesday, April 16th, 2014


ROACH: He needed to restrain Pacquiao. ROY LUARCA

HOLLYWOOD—Manny Pacquiao may have failed to score a knockout win over Timothy Bradley but he did more than enough to satisfy his chief trainer, Freddie Roach.

The six-time Trainer of the Year said he saw Pacquiao’s grim determination to finish off Bradley but the American was just too tough to nail on the canvas.

Still, the convincing unanimous decision win was enough to make Roach happy.

“I’m satisfied,” said Roach, who had hoped for a Pacquiao victory by stoppage, at his Wild Card Gym on Monday. “He did well.”

Pacquiao fired rapid combinations—including a flurry of 12 punches when he caught Bradley at the ropes in the fourth round, the same round the American jarred the Filipino superstar with a haymaker.

Unrelenting in attack, Pacquiao had to be restrained by Roach for fear that his prized ward might run into a sneaky punch, like the one Juan Manuel Marquez knocked him out with in their fourth duel in December 2012.

Bradley, who bulked up to 160 pounds on Saturday night and fought a la Marquez, waited vainly for that single opening to knock out the lighter Pacquiao (149 lb). Roach said that, as planned, Pacquiao confounded Bradley with lateral movement.

He said Pacquiao’s only shortcoming was he failed to unload enough body punches to wear down the bigger Bradley.

With his accuracy and volume of punches, Pacquiao was already ahead on the judges’ scorecards by the seventh round, noted Roach.

Manny Pacquiao in PBA? If so, he’ll wear No. 17 By Roy Luarca Philippine Daily Inquirer 12:06 am | Thursday, April 17th, 2014 1


Manny Pacquiao AP FILE PHOTO

HOLLYWOOD—Manny Pacquiao sure is giving serious thought to this plan of making it to the Philippine Basketball Association (PBA). He already has a jersey number picked out. “No. 17,” revealed the global boxing icon and congressman.

Pacquiao’s birthday is Dec. 17. “I might play in the PBA with Kia,” Pacquiao told Filipino sportswriters, confirming a story that came out in a news outlet that one of the three expansion teams accepted by the PBA would hire him. Kia, the universal Korean car brand, NLEX and Blackwater (Ever Bilena) were accepted as expansion clubs recently, bringing the PBA roster total to 13.

Pacquiao clarified, however, that nothing is definite yet. According to a Team Pacquiao member privy to the negotiations, the deal will most likely involve an endorsement package. Meanwhile, given a choice, Pacquiao will still pick the entertainment city of bright neon lights as the site of his next fight.

“I love Vegas,” said Pacquiao. “This is where my biggest fights started.” Promoter Bob Arum, however, is threatening to cut Pacquiao’s ties with MGM after a falling out with its officials.

Arum got mad after posters of the Floyd Mayweather Jr.-Marcos Maidana showdown were prominently displayed on the lobby and gaming tables of MGM Grand.

The venerable 82-year-old may yet hold Pacquiao’s next fight at The Venetian Macao, where Pacquiao made an auspicious comeback by ravaging Brandon Rios last November.


Chief News Editor: Sol Jose Vanzi

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