Manny Pacquaio Refuses to Submit Copies of Contracts to the BIR

The Bureau of Internal Revenue was forced to file charges against Manny Pacquaio because he continued to ignore the BIR’s requests for copies of his contracts.

The Bureau said Pacquiao’s tax payments dropped from over P100 million in 2008 to only P7 million in 2009.

The BIR District 18 sued Pacquiao for violation of Article 266 of the National Internal Revenue Code because the boxing champ continued to ignore the BIR’s requests for his contracts.

They haven’t reached to the point that he is evading taxes but they are asking him to submit contract copies and he refused to do it.

They are asking him for copies of his contracts to different companies, which he has not given or has refused to give she said.

The BIR wants to investigate 33 tax records: 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.

The agency also asked Pacquiao to produce 29 copies of his contracts for endorsements, including endorsements with Ricoa, Pagcor, and PLDT.

BIR has already stopped giving awards to the country’s top taxpayers because taxpayers should pay the correct amount of taxes.

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