From being number one in 2008, Sarangani Rep. and world boxing champion Manny Pacquiao slid to the 135th spot among the country’s Top 500 individual taxpayers in 2010, latest data from the Bureau of Internal Revenue (BIR) showed.
Pacquiao, who is currently at loggerheads with the BIR, paid only P9,190,691 in taxes in 2010 despite having a taxable income of P504.5 million, the bureau said.
In 2008, Pacquiao paid over P125 million, making him the top taxpayer for that year.
The eight-time world champion is currently facing a criminal case for obstructing a tax investigation into his earnings, a case that he said has cost him a fortune in endorsements.
The case was filed by the BIR last February after Pacquiao allegedly failed to submit proper documents about his earnings from boxing matches and his numerous commercial endorsements.
The BIR, through the agency’s regional director Rozil Lozares, issued a Letter of Authority to the boxing icon requiring him to submit documents regarding his earnings. Pacquiao allegedly failed to comply.
The BIR wants to investigate Pacquiao’s 33 tax records, including his 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.
GMA News Online called Pacquiao's business manager Rex "Wakee" Salud over the phone, but the boxing champ's camp is still to issue an official statement as of this posting.
Pacquiao’s tax payments substantially declined to some P7 million in 2009 from P125 million in 2008–a drastic drop that got the bureau curious.
Pacquiao has vowed to fight the case in court and accused the BIR of singling him out for harassment.
According to the latest BIR list, businessman Vicente Lao was the top taxpayer for 2010. He had a taxable income of P235 million that year and paid taxes of P75 million.
After Lao, businessman Rolando Hortaleza placed second with P69.665 million in taxes. Filmmaker Carlo J. Caparas, once the subject of a tax case filed by the BIR, came in third with P65.670 million in taxes.
For non-individual taxpayers, communications giant Smart Communications topped the list with P11.456 billion for 2010. Other top corporate taxpayers were Chevron Malampaya LLC (P4.378 billion) and Shell Philippines Exploration (P4.327 billion).
Nestle and San Miguel placed fourth and fifth, with P4.277 billion and P4.206 billion, respectively. — KBK/VS, GMA News
source: gmanetwork.com
