Advertisement
Advertisement

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 Wilder-Povetkin Decision Coming Very Soon, Says WBC Prez Photos: Gilberto Ramirez Visits Salido, Backs Him To Beat Vargas Photos: All Star Boxing vs. Canelo/Golden Boy - $27 Million Lawsuit Video: Bob Arum on Working With Haymon, Talks Canelo, GGG Roach: Van Heerden Beat Up McGregor, I Told Floyd I Need 3 Years Photos: Ezequiel Maderna Puts in Work To Shock Artur Beterbiev Arum on Possibility of Gilberto Ramirez vs. Julio Cesar Chavez Jr. Photos: Artur Beterbiev Puts Finishing Touches For Maderna Bout Roach: I'd Still Like Mayweather To Face a 'Healthy' Manny Pacquiao Arum: I Would Have Never Let Canelo Do What He Did With GGG Video: Freddie Roach on McGregor, Mayweather, Pacquiao Bob Arum, Al Haymon in Talks To Stage Fights, Work Together AIBA To Answer Doping Questions, Decide on Pros in Olympics Richard Commey To Be Ringside For Barthelemy vs. Bey Photos: Crawford vs. Postol Undercard Press Conference Francisco Vargas Not Bothered By Location Change For Camp Demetrius Andrade Training Hard For Willie Nelson Clash Van Heerdan Details McGregor Sparring, Says He is Capable Boxer Dejan Zlaticanin To Face New Opponent For WBC Title, Marsili Out Rueda: I Will Surprise The Fans, Oscar Valdez is Going To Lose! Fury: I'll Bend Over Wilder, Joshua - Split Them With This Long D*ck Julian Williams To Jermall Charlo: One Way To Prove Who's Better Video: Tyson Fury on Breaking Klitschko Mentally, Wilder Fight Liam Smith: Kell Brook is The Fight I'm Pushing For Klitschko Vows Payback, No Judges: I Will Knock Tyson Fury Out! Ashley Theophane On Board To Face Ricky Burns in UK Showdown Bellew: I Kicked Haye's Ass in Sparring, I'll Face Him at Heavyweight Emiliano Marsili Confident of Zlaticanin Win, Eyes Anthony Crolla Dillian Whyte: Briggs Will Be Very Dangerous For David Haye Golovkin's Coach: Danny Jacobs No Longer Calls For GGG Fight! Ryabinsky Intent On Clearing Povetkin, Rescheduling Wilder Bout Tony Bellew: Lebedev Holds a Couple Belts, He's The One We Want! Titles Changing Hands All Over: BoxingScene Ratings Update Haumono Motivated By Family To Blast Out Joseph Parker Selby Turns Back on Warrington, Eyes Frampton vs. Santa Cruz Porter Plans To Bang Away at Thurman's Ribs, Break His Body Atlas Would Love Pacquiao-Crawford, Spence Face The Top Dogs Bounced in Buffalo: 'Bump City' and 'Boom Boom' Hit The Skids Arslan Gets Foe: Manuel Charr, Adrian Granat, Fornling in Action Lara: Fans Will Get Tired of Golovkin's Easy Fights, He Needs Me
Advertisement

Latest Active Forum Threads
Advertisement
Advertisement