Advertisement
Advertisement
Boxingscene.com

Arum's Statement on Manny Pacquiao's Tax Issues

LAS VEGAS, NEV—Hall of Fame promoter Bob Arum issued the following statement regarding reports that Philippine authorities have questioned Manny Pacquiao's payment of taxes:

“Filipino authorities confirmed that Manny is not required to pay double tax. If Manny paid U.S. taxes for fights and endorsements that occurred on U.S. soil, he is not required to pay double taxes in the Philippines.

"For each of Manny’s fights that occurred in the United States, including those in 2008 and 2009, Top Rank withheld 30% of Manny's purses and paid those monies directly to the Internal Revenue Service (IRS) via Electronic Funds Transfer (EFT). Top Rank has deposit confirmations for each payment. Top Rank has done the same for all U.S. endorsements it has facilitated on Manny's behalf.

"Top Rank submitted copies of the EFT deposit acknowledgements to the Bureau of Internal Revenue (BIR) as proof of payment. The BIR received the documents but directed Manny to obtain “certified” documents directly from the IRS itself.

"As I am sure people appreciate, obtaining certified copies of documents from the IRS takes time. Manny made the formal request to the IRS and we have every expectation that the necessary documents will be furnished to the BIR very soon."

User Comments and Feedback (Register For Free To Comment) Comment by FrankieBruno on 11-27-2013

[QUOTE=Trudoe;13972746]I don't doubt for a second that Manny has lots of $$$$$$ safely put away for his family. He seems like that sort of person to take the extra precaution to ensure his family's safety. I highly doubt Pacman is…

Comment by Trudoe the.. on 11-27-2013

I don't doubt for a second that Manny has lots of $$$$$$ safely put away for his family. He seems like that sort of person to take the extra precaution to ensure his family's safety. I highly doubt Pacman is…

Comment by BlackSnakeMamba on 11-27-2013

Bob Arum is the Vince Mcmahon of pro boxing. He screwed Pacquiao.

Comment by WatchForTheHook on 11-27-2013

for Pac sake I hope he wins this case...No man should work so hard, to have everything taken away from them.... its like Bob is Don King And Pac is Mike Tyson all Over again!!! all these Pacboys talking about…

Comment by Los Zetas on 11-27-2013

Pac is dumb, when he signed for GB when he was with TR, I thought OK... Now I don't think he will ever leave TR since that incident.

Post a Comment - View More User Comments (150)
Top Headlines Klitschko Coach Says Everyone Will Be Shocked After Joshua Fight Nacho: Juan Manuel Marquez Has Not Retired, Wants To Fight Memo: Chavez Jr. Will Be Stronger, No Weight Issues For Canelo Thurman-Garcia: Narvaez vs. Rodriguez Clash is Eyed For Card Rob Brant Stops Alexis Hloros in First at Grand Casino in Hinckley Canelo vs. Chavez is a Fight Boxing Needed, Says De La Hoya David Haye: Chris Eubank Jr. is a Force, He Will Go All The Way Canelo vs. Chavez: Positive Talks Ongoing With MGM, Jerry Jones Conlan Hopes For 'Dream Fight' With Carl Frampton in The Future Top Rank Prez Eyes Deontay Wilder vs. Joseph Parker Unification Jacobs: Most Guys are Beaten Mentally When They Face Golovkin Frampton Expects Rematch With Leo Santa Cruz To Be Easier Tomoki Kameda Returns To Japan on March 10, Faces Tawatchai Carl Greaves Looks Back On 2016, Is Excited About 2017 Jermell Charlo, Gary Russell Mandatory Double Eyed For March 11 De La Hoya: Canelo Beating Chavez Jr. Will Not Satisfy The Critics Cedric Vitu Retains EBU Title, Decisions Isaac Real in Levallois Horn Warns Pacquiao, Top Rank Not To Look Beyond April Fight Angel Garcia, Mayweather Tarnished What Should've Been Good Week for Boxing WBA Champ Ortiz Wins Decision Over Ramos in Mexico City Robert Garcia: Canelo Has A lot More To Lose in Chavez Jr. Bout Hairon Socarras Training Hard in Miami For February 3 Return Zab Judah Returns, Blasts Out Munguia in Two Rounds Jose Pedraza Confident That He Will Return Strong at Lightweight Javier Fortuna Ready - Targets Sosa, Corrales, Lomachenko Alvarez vs. Chavez Rematch is Being Planned For March 11 Miguel Cotto: Juan Manuel Marquez Fight is Very Viable Bradley Pryce Announces Retirement After Defeat Robbie Davies Jr. Crushes Zoltan Szabo, Retains WBA Regional Patrick Nielsen, Dina Thorslund Win Decisions, Khattab Shocked Bellew: 'Ego Maniac' David Haye Better Hope He Ends Me in Four Beterbiev: Barrera Proved To Be a Real Fighter, He Agreed To Fight Luis Cruz Admits He Was Close To Retirement Before Easter Shot Mundine: When I Beat Danny Green - Call Me Black Houdini! Frank Warren: Liam Walsh Ready, He Can Beat Gervonta Davis! Frampton Expects Another Fan Friendly Fight Against Santa Cruz Curtis Stevens Sure Hand Injury Fully Healed for Lemieux Fight Garcia, 2-1 Underdog vs. Thurman: 'I Guess Vegas Don’t Like Me' Frank Warren on The James DeGale vs. Badou Jack Outcome Early Results Are In: BoxingScene Ratings Update
Advertisement
Latest Active Forum Threads
Advertisement
Advertisement