PACQUIAO ASKS TAX COURT TO RECONSIDER 'IMPOSSIBLE' CASH BOND DEPOSIT

World boxing champion Manny Pacquiao has asked the Court of Tax Appeals to reconsider its order to him and his wife to deposit a cash bond that he considered “impossible”.
The tax court in its April 22 ruling granted the urgent motion filed by Pacquiao to lift the warrant of distraint and levy and garnishment on him as well as the collection of taxes by the Bureau of Internal Revenue (BIR) but added as a condition his payment of a P3 billion cash bond or P4 billion surety bond within 10 days upon receipt of the resolution. The 10th day is May 2. Pacquiao did not post a bond but instead filed a partial motion for reconsideration, telling the tax court that the condition was “impossible.” Pacquiao’s camp urged the Tax Court to either remove the bond payment condition or at least reduce the amount. Pacquiao’s tax liability is P2.2 billion. According to the BIR, the bond was based on the updated amount including surcharges and penalties.
The exact amount of the cash bond is P3,298,514,894.35 and the surety bond equivalent to 1.5 of the amount being collected or P4,947,772,341.53.THIS IS THE FULL REPORT.

ALSO: Muhammad Ali urges Mayweather to fight Manny

Boxing great Muhammad Ali joined the growing clamor for Floyd Mayweather, Jr. to finally fight Manny Pacquiao. Ali went to Twitter on Sunday (Manila time) to extend his congratulatory message to Mayweather after he remained unbeaten following a majority decision win over Marcos Maidana on Sunday. Ali is considered the greatest heavyweight boxer of all time with some of his fights like Rumble in the Jungle and Thrilla in Manila going down in the history as classic. Boxing fans and even analysts are hoping that Ali's tweet will give credence to a possible titanic clash between the top two fighters of this generation.

ALSO: Mayweather struggles past foe

UNDEFEATED Floyd Mayweather Jr. was on the brink of losing his clean sheet against Argentina’s Marcos Maidana, who gave the pound-for-pound king more than he bargained for before dropping a controversial majority decision at the MGM Grand Garden Arena. Boxing writer Tim Starks reported that in the first six rounds, Maidana was “often beating up Mayweather,” although in the end, the American got the decision, which was met with boos by the fans, many of whom thought that at least two of the judges, who favored the champion, were way off as the Argentinean swarmed all over Mayweather and gave him one of his hardest ring battles. Respected judge Michael Pernick scored it even at 114-114, but Bert Clements, who is remembered for his error in scoring the opening round of Manny Pacquiao’s first fight against Juan Manuel Marquez, had Mayweather a big 117-111 winner. Clements was the judge who scored the first round of the Pacquiao-Marquez fight, 10-7 for the Filipino, who dropped Marquez three times in that round, instead of the 10-6, thereby depriving him of the victory. READ MORE...

 


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Pacquiao asks tax court to reconsider ‘impossible’ cash bond deposit

MANILA, MAY 5, 2014, (INQUIRER) By Tetch Torres-Tupas- World boxing champion Manny Pacquiao has asked the Court of Tax Appeals to reconsider its order to him and his wife to deposit a cash bond that he considered “impossible”.

The tax court in its April 22 ruling granted the urgent motion filed by Pacquiao to lift the warrant of distraint and levy and garnishment on him as well as the collection of taxes by the Bureau of Internal Revenue (BIR) but added as a condition his payment of a P3 billion cash bond or P4 billion surety bond within 10 days upon receipt of the resolution. The 10th day is May 2.

Pacquiao did not post a bond but instead filed a partial motion for reconsideration, telling the tax court that the condition was “impossible.”
Pacquiao’s camp urged the Tax Court to either remove the bond payment condition or at least reduce the amount.

Pacquiao’s tax liability is P2.2 billion. According to the BIR, the bond was based on the updated amount including surcharges and penalties.

The exact amount of the cash bond is P3,298,514,894.35 and the surety bond equivalent to 1.5 of the amount being collected or P4,947,772,341.53.

FROM PHILSTAR

Ali urges Mayweather to fight Manny By Alder Almo (philstar.com) | Updated May 4, 2014 - 7:11pm 93 25 googleplus0 0


Muhammad Ali. AP file photo

MANILA, Philippines -- Boxing great Muhammad Ali joined the growing clamor for Floyd Mayweather, Jr. to finally fight Manny Pacquiao.

Ali went to Twitter on Sunday (Manila time) to extend his congratulatory message to Mayweather after he remained unbeaten following a majority decision win over Marcos Maidana on Sunday.

Ali is considered the greatest heavyweight boxer of all time with some of his fights like Rumble in the Jungle and Thrilla in Manila going down in the history as classic. Boxing fans and even analysts are hoping that Ali's tweet will give credence to a possible titanic clash between the top two fighters of this generation.

Mayweather's majority decision over Maidana was closer than what the scores 114-114, 117-111, 116-112 suggest. The American boxer, however, was quick to avoid Pacquiao on his next fight, after hinting on a possible rematch with Maidana following his close victory.

FROM MANILA STANDARD

Mayweather struggles past foe By Ronnie Nathanielsz | May. 05, 2014 at 12:01am

UNDEFEATED Floyd Mayweather Jr. was on the brink of losing his clean sheet against Argentina’s Marcos Maidana, who gave the pound-for-pound king more than he bargained for before dropping a controversial majority decision at the MGM Grand Garden Arena.

Boxing writer Tim Starks reported that in the first six rounds, Maidana was “often beating up Mayweather,” although in the end, the American got the decision, which was met with boos by the fans, many of whom thought that at least two of the judges, who favored the champion, were way off as the Argentinean swarmed all over Mayweather and gave him one of his hardest ring battles.

Respected judge Michael Pernick scored it even at 114-114, but Bert Clements, who is remembered for his error in scoring the opening round of Manny Pacquiao’s first fight against Juan Manuel Marquez, had Mayweather a big 117-111 winner. Clements was the judge who scored the first round of the Pacquiao-Marquez fight, 10-7 for the Filipino, who dropped Marquez three times in that round, instead of the 10-6, thereby depriving him of the victory.

Also under fire for his 116-112 scorecard was judge Dave Moretti. Maidana’s trainer Robert Garcia claiming his fighter was robbed.

“The whole world saw what we did to Floyd. Nobody has ever done what we did. Maidana’s overwhelming aggressiveness when he got Mayweather against the ropes was enough to win the fight,” Garcia, the 2012 Trainer of the Year, in an interview with the Manila Standard said.

Internationally respected 2013 World Boxing Council Referee of the Year Bruce McTavish said: “It should have been a draw.”

Among those who also saw the fight even were Tim Starks, as well as USA Today’s Bob Velin, while American Rick Stahaley, who trained Pacquiao for his first world title win when he scored a spectacular eighth-round knockout of Thai hero Chatchai Sasakul, told the Manila Standard: “It was close and Mayweather barely won the fight, but it was tough for him.”

Stahaley added: “A guy like Manny, whose got the hand-speed and throws nice punches, can beat Floyd.”

But he expressed doubts whether such a fight would push through either against Pacquiao or even Amir Khan, who he said “looked sensational” against Luis Collazo, whom he dropped three times en route to a comfortable unanimous decision in the undercard.

“After watching the Maidana fight, I think Pacquiao gives him problems and Khan could give him problems,” said Stahaley. “Manny is a little bit faster and speed gives Floyd problems because he’s always been the faster guy. I think Manny definitely will give Floyd problems.”

Just to make sure they’re fine, Pacquiao is staying by the bedside of his wife Jinkee and newborn son Israel, who are still in the hospital after Pacquiao’s wife gave birth in their hometown of General Santos City.

Pacquiao didn’t watch the fight and asked Manila Standard what it thought of Mayweather’s performance, which this writer told him wasn’t as impressive as most fight fans expected and that several boxing writers thought it should have been a draw instead of a win for Mayweather, who added the World Boxing Association welterweight title to his WBC belt.

“I can’t see how the judges saw it so far apart. It could have gone either way by just one round,” said Pacquiao’s adviser Michael Koncz, who plans to leave for Manila on Monday.

Garcia also accused the Mayweather camp of “cheating us over the gloves. The Nevada State Athletic Commission approved the gloves that we had but Mayweather said ‘no we cannot wear them and forced us to wear some other gloves that ‘Chino” Maidana had never worn before. They should be ashamed of what they did.”

Garcia added: “Imagine if Maidana hit Mayweather with the Mexican gloves, he would have knocked him out.”

The Mexican gloves use horsehair, while the Mayweather camp insisted on soft-padded gloves.

“If the fans want to see it again, let’s do it again.” said Mayweather in an effort to diffuse the controversy.

Maidana replied: “I have to give him (Mayweather) a rematch because I won.”

“They have to give us a rematch. They better. If they don’t it will look very bad for them,” said Garcia.

Pacquiao, Arum extend pact By Ronnie Nathanielsz | Apr. 30, 2014 at 12:01am MANILA STANDARD

TOP Rank promoter Bob Arum claimed a contract extension with his prized possession Manny Pacquiao is almost a done deal.

“We’ve pretty well agreed on all points. I’m getting it wrapped up with Michael Koncz (Pacquiao’s adviser who is in the US) and then he’s going to take it to the Philippines for Manny’s signature,” Arum told the Manila Standard.

Koncz, for his part, said: “We are talking, but nothing is final. He’s got a company to protect and I have Manny to protect. We’ve been together for a long time, so (the mood) is okay. Manny talked to me last night, gave me a couple of projects to do and I’ll leave Wednesday (for Manila).”

However, he didn’t disclose what the projects were.

Arum confirmed what Pacquiao said during a courtesy call on Manila Mayor Joseph Estrada and Vice Mayor Ishko Moreno last week that he will fight the winner of the Juan Manuel Marquez – Mike Alvarado duel, possibly in November.

“The WBO has indicated that the winner of that fight will be a mandatory for Manny,” the Top Rank promoter said.

Should Marquez win, it will be his fifth fight against Pacquiao, but if Alvarado wins, Arum indicated “we won’t have a problem making that fight because he (Alvarado) fights for me also.”

Meanwhile, Arum said the people at the Venetian Resort Hotel and Casino in Macau are “very happy with the ticket sales” for the World Boxing Association featherweight title fight between Nonito Donaire and champion Simpiwe Vetyeka of South Africa, who won the title late last year in Metro City, Perth, Western Australia, when longtime champion Chris John of Indonesia quit at the end of the sixth round.

The Top Rank promoter, whose May 31 card will be headlined by three world featherweight title bouts, told Manila Standard: “The response has been great. Believe me, it’s one of the best cards of the year.”

International Boxing Federation champion Evgeny Gradovich (18-0, 9 KOs) fights Alexander Miskirtchian (24-2-1, 9 KOs) and WBA champion Nicholas Walters of Jamaica (23-0, 19 Kos) takes on Vic Darchinyan (39-6-1, 28 KOs).


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