BREAKING NEWS: MANNY, JINKEE WELCOME 5th, A BABY BOY

APRIL 27 --Two weeks since his scintillating victory over Timothy Bradley, boxing icon and Sarangani Rep. Manny Pacquiao has received another blessing—the birth of his fifth child. His wife, Sarangani Vice Gov. Jinkee Pacquiao, on Sunday gave birth to a baby boy via Caesarean section. According to reports, he will be named Israel. Manny and Jinkee have four other kids—Emmanuel Jr., Michael, Princess, and Queen Elizabeth. THIS IS THE FULL REPORT FOR NOW. WATCH VIDEO AT HOSPITAL.

PACMAN WINS A ROUND IN TAX FIGHT, ASKED TO FILE SURETY BOND

Fresh from regaining the World Boxing Organization welterweight title, Sarangani Rep. Manny Pacquiao has won the first round of his tax battle with the Bureau of Internal Revenue (BIR). The Court of Tax Appeals (CTA) on Tuesday stopped the BIR from garnishing his properties over his supposed P3.289-billion back taxes as it granted his motion to lift the warrants of distraint and levy and garnishment. However, Pacquiao and his wife Jinkee were ordered to either deposit over P3 billion as cash bond or file a surety bond with the court. One of Pacquiao’s lawyers said they may ask for a reduction of the cash bond. “We grant the instant urgent motion for the suspension of collection of taxes,” the 10-page ruling, a copy of which was obtained by The STAR, also stated. “Respondent is hereby ordered to cease and desist from enforcing the subject Final Decision of Disputed Assessment (FDDA) and from collecting the subject deficiency tax assessments issued against petitioners for taxable years 2008 and 2009,” it said. Presiding Justice Roman del Rosario signed the resolution, with the concurrence of Associate Justices Erlinda Uy and Cielito Mindaro-Grulla. READ MORE...

ALSO: Why Pacquiao is not yet off the hook in tax case - Henarez

BIR commissioner Kim Henares said that while there would be no garnishment of Pacquiao’s properties at the moment, he has been required to post a cash bond of P3.3 billion or a surety bond of P4.95 billion, which is one and a half times the amount being demanded by the government from him. “Basically, the decision of the Court was not to determine if the assessment has become final. A full-blown trial must be conducted. I do not see it as stopping the garnishment as it will only stop if he is able to post a cash bond or surety bond,” Henares said in a text message. Pacquiao was given 10 days from receipt of the CTA ruling to deposit the bond, otherwise the BIR would continue the enforcement of collection of his tax deficiencies and the garnishment of his properties. BIR deputy commissioner Estela Sales said the CTA’s decision to require Pacquiao to post cash bond or surety bond actually guarantees protection of government interest. “In a way, it’s a victory for us because they are required to deposit cash bond or file a surety bond,” Felix Paul Velasco, chief of the BIR litigation division, said in a phone interview yesterday. In its ruling, the CTA first division in effect granted the motion of Pacquiao and his wife Jinkee for the lifting of the warrants of distraint and levy and garnishment as well as suspension of collection. READ MORE...

ALSO: Khan on possible bout vs Pacquiao: ‘Sometimes friends fight’

British boxer Amir Khan isn’t ruling out the possibility of fighting Manny Pacquiao in the future. It can be recalled that Khan used to be Pacquiao’s sparring partner, even travelling to the Philippines in 2011 to help the Filipino prepare for his fight against Shane Mosley. Khan, who also briefly trained under Freddie Roach, considers Pacquiao as a friend. But he said friendship shouldn’t be a hindrance in doing business in the ring. "We are friends [me and Pacquiao] but sometimes friends fight each other," Khan, a former lightweight and light welterweight titleholder, told UK boxing scribe Gareth Davis of The Telegraph. Khan thus joins the list of boxers who have lined up hoping for a crack at Pacquiao, who is coming off a vindicating win over Timothy Bradley last April 13 to regain the WBO welterweight title. Pacquiao has indicated his desire to fight again later this year against anyone. READ MORE...

ALSO: Mayweather unimpressed with Pacquiao win over Bradley

Floyd Mayweather Jr. was asked for his opinion on Manny Pacquiao’s recent win over Timothy Bradley. The undefeated American, as expected, hardly had any praise for the Filipino icon. In a report by fighthype.com’s Ben Thompson, Mayweather admitted seeing portions of Pacquiao’s fight with Bradley last April 13, even congratulating the Filipino for reclaiming the WBO welterweight title via a unanimous decision. "Actually, I did watch the fight. You know, I haven't seen Pacquiao fight in years. I've seen highlights, but I haven't seen Pacquiao fight since he fought Miguel Cotto (in 2009). You know, congratulations; he was the better man," said Mayweather. Mayweather’s praise for Pacquiao, however, ends right there. The Las Vegas-based fighter stressed he wasn’t impressed with Pacquiao’s performance, adding both Pacquiao and Bradley treated their rematch like an amateur fight. "I think both fighters fought like amateurs. I thought Pacquiao fought like an amateur also and I wasn't pleased with his performance. He got the victory the best way he knew how, but I wasn't pleased with his performance at all," Mayweather explained. READ MORE...

ALSO: De La Hoya back as GBP prexy, wants Pacquiao vs Canelo

Oscar De La Hoya, the former superstar boxer-turned-promoter, is back as president of Golden Boy Promotions – the promotional outfit he founded – after a brief hiatus due to personal issues. De La Hoya spoke to Lance Pugmire of the Los Angeles Times about wanting to promote some big fights, even saying he’s willing to reach out to Bob Arum of rival Top Rank Inc. to make these bouts happen. The one fight De La Hoya singled out is a showdown between Manny Pacquiao and Mexican star Saul “Canelo” Alvarez. “Anything’s possible. That’s one of the reasons I was extending the olive branch. The fans want to see these kinds of fights,” he told Pugmire. Pacquiao is coming off a vindicating win over Timothy Bradley last April 13 to regain the WBO welterweight title, while Alvarez is scheduled to face Erislandy Lara in July. The Filipino icon has indicated his desire to fight one more time this year. De La Hoya is hopeful it will be against Alvarez, who famously fought and lost to Floyd Mayweather in September last year in his biggest fight to date. READ MORE...


READ FULL MEDIA REPORTS HERE:

Manny, Jinkee Pacquiao welcome baby boy


Manny and Jinkee Pacquiao File Photo by Elton Lugay

MANILA, APRIL 28, 2014, (INQUIRER) By Ivan Angelo De Lara —Two weeks since his scintillating victory over Timothy Bradley, boxing icon and Sarangani Rep. Manny Pacquiao has received another blessing—the birth of his fifth child.

His wife, Sarangani Vice Gov. Jinkee Pacquiao, on Sunday gave birth to a baby boy via Caesarean section.

According to reports, he will be named Israel. Manny and Jinkee have four other kids—Emmanuel Jr., Michael, Princess, and Queen Elizabeth.

HERE IS THE VIDEO AT THE HOSPITAL:

 
URL: https://www.youtube.com/watch?v=PaZxv6CkFVw

FROM PHILSTAR

Pacman wins a round in tax fight, but...

MANILA --Fresh from regaining the World Boxing Organization welterweight title, Sarangani Rep. Manny Pacquiao has won the first round of his tax battle with the Bureau of Internal Revenue (BIR).

The Court of Tax Appeals (CTA) on Tuesday stopped the BIR from garnishing his properties over his supposed P3.289-billion back taxes as it granted his motion to lift the warrants of distraint and levy and garnishment.

However, Pacquiao and his wife Jinkee were ordered to either deposit over P3 billion as cash bond or file a surety bond with the court. One of Pacquiao’s lawyers said they may ask for a reduction of the cash bond.

“We grant the instant urgent motion for the suspension of collection of taxes,” the 10-page ruling, a copy of which was obtained by The STAR, also stated.

“Respondent is hereby ordered to cease and desist from enforcing the subject Final Decision of Disputed Assessment (FDDA) and from collecting the subject deficiency tax assessments issued against petitioners for taxable years 2008 and 2009,” it said.

Presiding Justice Roman del Rosario signed the resolution, with the concurrence of Associate Justices Erlinda Uy and Cielito Mindaro-Grulla.

Cash bond

“The suspension of collection shall be subject to petitioner’s depositing of a cash bond in the amount of P3,298,514,894.35 or posting of a GSIS bond or a bond from other reputable surety company duly accredited by the Supreme Court, in the amount equivalent to one and one half of the amount being collected or P4,947,772,341.53,” the resolution stated.

“Failure to post the required cash or surety bond and submit the above-stated requirements within 10 days from receipt of the resolution will warrant the setting aside of the suspension of collection of taxes as herein granted,” it added.

Tranquil Salvador, one of Pacquiao’s lawyers, said his client is ready to comply with the court’s order.

“He still has options, which is to ask for the reduction of the bond, or secure a corporate surety, in this case, he only pays the premium of the amount just like in an insurance,” he said.

Pacquiao had sought the CTA’s intervention on the BIR’s move to collect his alleged back taxes, which ballooned to over P3 billion last year from the initial assessment of P2.229 billion in 2010.

Pacquiao’s lawyers said their client paid the appropriate taxes, showing documents from his promoter.

Records showed that Top Rank Inc. paid the petitioner a total of $12,948,439.00 for 2008 and $14.9 million for 2009, and the US government withheld $3,884,531.00 and $4,470,000, respectively.

Suspension of tax collection

The CTA said it could order the suspension of tax collection under Section 11 of Republic Act 1125, which created the Court of Tax Appeals if the interest of the government and/or the taxpayer would be jeopardized.

“This court may, in proper cases, issue the writ of injunction to restraint/distraint and levy ordered by internal revenue officials to collect taxes under dispute,” it said.

The court noted that the BIR is collecting a total of P3,298,514,894.35 – representing Pacquiao’s income and value-added taxes for taxable years 2008 to 2009, including surcharge and interests – as of Oct. 13, 2013.

The CTA said the amount “appears to be way beyond” the petitioners’ net worth, which was pegged at P1.186 billion as of July 1, 2013.

“On this score, coupled with the costs of the daily subsistence of petitioners and the members of their family, we find that the collection of the subject income tax from petitioners would jeopardize their interest,” the resolution said. “The suspension thereof while this case is pending is justified.”

The CTA set a pre-trial conference on June 6, and directed both parties to submit their respective pre-trial briefs at least five days earlier.

Military honor

Meanwhile, Pacquiao will be honored by military reservists next month for his impressive victory over American boxer Timothy Bradley last April 13.

Brig. Gen. Alexis Tamondong, chief of the Army Reserve Command, said a military merit medal would be awarded to Pacquiao in General Santos on May 4. The medal is awarded to soldiers who performed meritoriously in various administrative tasks not related to combat.

The awarding ceremony will coincide with the celebration of National Reservist Week.

“I will give him the award and then perhaps a plaque of appreciation from the command,” Tamondong said yesterday. – With Alexis Romero

FROM ABS-CBN

Why Pacquiao is not yet off the hook in tax case By Zinnia Dela Peña, The Philippine Star Posted at 04/25/2014 4:10 AM | Updated as of 04/25/2014 4:10 AM

MANILA, Philippines - World boxing icon and Sarangani Rep. Manny Pacquiao is not yet off the hook despite a Court of Tax Appeals (CTA) decision preventing the Bureau of Internal Revenue (BIR) from garnishing his properties.

BIR commissioner Kim Henares said that while there would be no garnishment of Pacquiao’s properties at the moment, he has been required to post a cash bond of P3.3 billion or a surety bond of P4.95 billion, which is one and a half times the amount being demanded by the government from him.

“Basically, the decision of the Court was not to determine if the assessment has become final. A full-blown trial must be conducted. I do not see it as stopping the garnishment as it will only stop if he is able to post a cash bond or surety bond,” Henares said in a text message.

Pacquiao was given 10 days from receipt of the CTA ruling to deposit the bond, otherwise the BIR would continue the enforcement of collection of his tax deficiencies and the garnishment of his properties.

BIR deputy commissioner Estela Sales said the CTA’s decision to require Pacquiao to post cash bond or surety bond actually guarantees protection of government interest.

“In a way, it’s a victory for us because they are required to deposit cash bond or file a surety bond,” Felix Paul Velasco, chief of the BIR litigation division, said in a phone interview yesterday.

In its ruling, the CTA first division in effect granted the motion of Pacquiao and his wife Jinkee for the lifting of the warrants of distraint and levy and garnishment as well as suspension of collection.

“The suspension of collection shall be subject to petitioner’s depositing of a cash bond in the amount of P3,298,514,894.35 or posting of a GSIS bond or a bond from other reputable surety company duly accredited by the Supreme Court, in the amount equivalent to one and one half of the amount being collected or P4,947,772,341.53,” the 10-page resolution read.

“Failure to post the required cash or surety bond and submit the above-stated requirements within 10 days from receipt of the resolution will warrant the setting aside of the suspension of collection of taxes as herein granted,” it added.

Tranquil Salvador, one of Pacquiao’s lawyers, earlier said they may file a motion seeking to reduce the amount of bond set by the court.

Velasco said the battle is far from over as the CTA would still hear their motion seeking the dismissal of the petition for review filed by the Pacquiaos.

The case stemmed from Pacquiao’s alleged failure to pay taxes on earnings from his bouts in 2008 and 2009 and on his share in income from “pay-per-view” cable services and product endorsements.

His tax liability has now ballooned to around P2.65 billion due to interest charges.

Under the Tax Code, the BIR shall impose an interest of 20 percent per annum on unpaid tax obligations.

The tax liability was also due to Pacquiao’s failure to present proper documentation of his tax payments to the Internal Revenue Service (IRS) of the United States.

Days prior to Pacquiao’s rematch with Timothy Bradley, Henares had reminded Pacquiao to declare in his income tax return whatever he earns from the fight and pay the corresponding taxes.

Henares likewise reminded the boxer to properly document his US tax settlements to avoid being levied twice.

Pacquiao has so far only paid the value added tax amounting to P32 million, which covers his P114-million earnings from 14 product endorsements.

The BIR had attached a writ of garnishment against Pacquiao’s assets and properties to compel the boxer-politician to settle his tax liability to the government.

The boxing champ, however, is contesting the BIR’s findings, pointing out he has already paid all the required taxes.

Under the Philippine Tax Code, a compromise payment of at least 40 percent of basic tax assessed may be allowed when reasonable doubt as to the validity of the assessment against the taxpayer exists.

In cases where the taxpayer is suffering from a net worth deficit or has been declared bankrupt, a minimum compromise rate equivalent to 10 percent of the basic assessed tax is allowed.

Where the basic tax involved exceeds P1 million or where the settlement offered is less than the prescribed minimum rates, the compromise shall be subject to the approval of an evaluation board composed of the commissioner and the four deputy commissioners.

The Tax Code also states that no offer of compromise shall be entertained unless the taxpayer waives in writing his or her bank deposit secrecy privilege. – Anvic Mateo

Khan on possible bout vs Pacquiao: ‘Sometimes friends fight’ By Dino Maragay (philstar.com) | Updated April 24, 2014 - 4:10pm 8 208 googleplus0 0


Amir Khan, who considers Manny Pacquiao as a close friend, doesn't mind facing the Filipino icon in a fight. AP photo

MANILA, Philippines – British boxer Amir Khan isn’t ruling out the possibility of fighting Manny Pacquiao in the future.

It can be recalled that Khan used to be Pacquiao’s sparring partner, even travelling to the Philippines in 2011 to help the Filipino prepare for his fight against Shane Mosley.

Khan, who also briefly trained under Freddie Roach, considers Pacquiao as a friend. But he said friendship shouldn’t be a hindrance in doing business in the ring.

"We are friends [me and Pacquiao] but sometimes friends fight each other," Khan, a former lightweight and light welterweight titleholder, told UK boxing scribe Gareth Davis of The Telegraph.

Khan thus joins the list of boxers who have lined up hoping for a crack at Pacquiao, who is coming off a vindicating win over Timothy Bradley last April 13 to regain the WBO welterweight title. Pacquiao has indicated his desire to fight again later this year against anyone.

It could be against Juan Manuel Marquez again, if he gets past Mike Alvarado next month. Ruslan Provodnikov, a Russian slugger, is also a possibility.

Adrien Broner, a former three-division champion, has also indicated his desire to face Pacquiao. Even Saul Alvarez was brought up as a possible Pacquiao foe by promoter Oscar De La Hoya, who on Tuesday revealed he has talked to Bob Arum about pitting the two fighters.

Add Khan to the mix.

"It can happen (Pacquiao fight), definitely it can happen. I mean, in this boxing world we are friends. But like I said sometimes friends have to fight each other. I mean, Manny’s a great fighter, but yes, I think if it makes sense taking that fight, then why not?," said Khan, who was supposed to fight Floyd Mayweather in May, but the latter opted to face Marcos Maidana.

Instead, Khan (28-3, with 19 knockouts) will take on Luis Collazo on the undercard of Mayweather-Maidana, and if he’s successful, a showdown with Pacquiao could be next.

"Look, we are the best fighters out there, and in my career I’ve always said I will fight the best people. So, if that means Manny’s one of them and it happens, then why not? I think it can definitely happen," he explained.

Mayweather unimpressed with Pacquiao win over Bradley By Dino Maragay (philstar.com) | Updated April 24, 2014 - 11:01am 19 1627 googleplus0 0


Floyd Mayweather Jr. says Manny Pacquiao and Timothy Bradley fought like amateurs in their rematch last April 13. (AP file photo)

MANILA, Philippines – Floyd Mayweather Jr. was asked for his opinion on Manny Pacquiao’s recent win over Timothy Bradley. The undefeated American, as expected, hardly had any praise for the Filipino icon.

In a report by fighthype.com’s Ben Thompson, Mayweather admitted seeing portions of Pacquiao’s fight with Bradley last April 13, even congratulating the Filipino for reclaiming the WBO welterweight title via a unanimous decision.

"Actually, I did watch the fight. You know, I haven't seen Pacquiao fight in years. I've seen highlights, but I haven't seen Pacquiao fight since he fought Miguel Cotto (in 2009). You know, congratulations; he was the better man," said Mayweather.

Mayweather’s praise for Pacquiao, however, ends right there.

The Las Vegas-based fighter stressed he wasn’t impressed with Pacquiao’s performance, adding both Pacquiao and Bradley treated their rematch like an amateur fight.

"I think both fighters fought like amateurs. I thought Pacquiao fought like an amateur also and I wasn't pleased with his performance. He got the victory the best way he knew how, but I wasn't pleased with his performance at all," Mayweather explained.

Mayweather made the comments in a recent conference call with the media to drum up his fight with Argentine Marcos Maidana on May 3 (May 4 Manila time). After Pacquiao defeated Bradley, talks about him facing Mayweather in a megabuck showdown resurfaced.

Pacquiao and Mayweather have tried to arrange a showdown before but failed. But the fighting congressman isn’t closing his doors on a Mayweather bout.

The same can’t be said for Mayweather, who still isn’t keen on meeting Pacquiao as long as the latter is associated with Bob Arum’s Top Rank Inc.

"I'm seeing something totally different in Pacquiao, but still, that don't make me say, 'Yeah, I'ma go out there and fight him,' because he's with Bob Arum and I'm with Mayweather Promotions," he ended.

De La Hoya back as GBP prexy, wants Pacquiao-Canelo By Dino Maragay (philstar.com) | Updated April 23, 2014 - 11:01am 17 2318 googleplus1 0


Golden Boy Promotions president and former boxing superstar Oscar De La Hoya wants a fight between Manny Pacquiao and Saul 'Canelo' Alvarez. AP photo

MANILA, Philippines – Oscar De La Hoya, the former superstar boxer-turned-promoter, is back as president of Golden Boy Promotions – the promotional outfit he founded – after a brief hiatus due to personal issues.

De La Hoya spoke to Lance Pugmire of the Los Angeles Times about wanting to promote some big fights, even saying he’s willing to reach out to Bob Arum of rival Top Rank Inc. to make these bouts happen.

The one fight De La Hoya singled out is a showdown between Manny Pacquiao and Mexican star Saul “Canelo” Alvarez.

“Anything’s possible. That’s one of the reasons I was extending the olive branch. The fans want to see these kinds of fights,” he told Pugmire.

Pacquiao is coming off a vindicating win over Timothy Bradley last April 13 to regain the WBO welterweight title, while Alvarez is scheduled to face Erislandy Lara in July. The Filipino icon has indicated his desire to fight one more time this year.

De La Hoya is hopeful it will be against Alvarez, who famously fought and lost to Floyd Mayweather in September last year in his biggest fight to date.

It’s been a while since GBP and Top Rank – two of the biggest promotional outfits in the business – got together to arrange a fight between their respective fighters.

Arum, for his part, is likewise willing to work again with De La Hoya, whom he used to promote when the latter was still an active boxer.

“I’d be happy to talk to Oscar about any subject in boxing he wishes to talk to me about,” Arum said in the same Los Angeles times report.

“All this baloney about a cold war has never really applied to Oscar and myself. We can talk bout any subject in boxing rationally. … We might disagree on a particular point, but we can talk. I hope we’ll get together and have some significant meetings in the near future,” added the Top Rank chief.

Weight, however, could be an issue in making a Pacquiao-Alvarez fight. Alvarez, who sports a record of 43-1-1, with 31 knockouts, currently campaigns at light middleweight or 154 pounds. Pacquiao, meanwhile, fights at welterweight and might even slide down to light welterweight (140 pounds), if trainer Freddie Roach will have his way.

But De La Hoya insists anything is possible.

“If anyone with Golden Boy has any differences with Bob, it’s on them. I have nothing against Bob and I feel making fights with Bob is beneficial to the fans and the market,” said De La Hoya.


Chief News Editor: Sol Jose Vanzi

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