Comments Thread For: Pacquiao's Federal Tax Lien Being Released By IRS

[Oasis_Lad]

fighter of the decade? which decade ?

The last Decade. It wasn't that long ago that you'd forget.

[richardt]

who is responsible for paying manny's US taxes if it's not manny?

Arum and Arum only: Tax experts and veteran officials from the Bureau of Internal Revenue (BIR) opined yesterday that it is not the duty of boxing icon Manny Paquiao to file and pay income tax in the United States out of his earnings from boxing there.

They said that responsibility lies with his promoter, Top Rank Promotions owned by Bob Arum, under the US withholding tax system upon which the withholding tax system provision in the Internal Revenue Code (NIRC) of the Philippines was copied.

The tax experts said that under the scheme, Pacquiao gets his cash prize net of tax and that the same formula is applied when Paquiao receives his pay for endorsing commercial products and his share from the pay-per view proceeds of his boxing fights

[The Big Dunn]

By JUN RAMIREZ

Manila, Philippines – Tax experts and veteran officials from the Bureau of Internal Revenue (BIR) opined yesterday that it is not the duty of boxing icon Manny Paquiao to file and pay income tax in the United States out of his earnings from boxing there.

They said that responsibility lies with his promoter, Top Rank Promotions owned by Bob Arum, under the US withholding tax system upon which the withholding tax system provision in the Internal Revenue Code (NIRC) of the Philippines was copied.

The tax experts said that under the scheme, Pacquiao gets his cash prize net of tax and that the same formula is applied when Paquiao receives his pay for endorsing commercial products and his share from the pay-per view proceeds of his boxing fights.

In case of deficits in the payment of the final withholding tax, they said Bob Arum’s obligation is to remit the deficiency to the Internal Revenue Service (IRS) of the US and later he should ask Pacquiao to reimburse it because the solon is considered non-resident alien.

They said, however, it would be a different issue if Pacquiao is a holder of a dual citizenship and engaged in business or trade in the US.

The tax experts issued the comment following news reports that the IRS is going after Pacquiao for the unpaid taxes out of his boxing matches in the US although his camp denied the report.

They said Pacquiao’s situation could be likened to international artists performing in the country.

They said tax liabilities of Madonna, Justin Bieber and other foreign singers who visited the country were paid by their local organizers like Ovation Productions and not by the entertainers themselves.

This is hardly a credible source. They even said opined. They also weren't even sure which rules apply to manny.

I know you want to make manny look as good as possible but come on.

[richardt]

This is hardly a credible source. They even said opined. They also weren't even sure which rules apply to manny. I know you want to make manny look as good as possible but come on.

I am taking Tax experts information over your hollow rebuttal so unless you have something that counters the article, shut up. I'll wait for your "expert opinion" to come up with something that proves otherwise. You act like it is impossible for Arum to be 100% responsible. Damn, you are nuthugging Arum as leverage to diss Pac. How low can you stoop?

[The Big Dunn]

I am taking Tax experts information over your hollow rebuttal so unless you have something that counters the article, shut up. I'll wait for your "expert opinion" to come up with something that proves otherwise. You act like it is impossible for Arum to be 100% responsible. Damn, you are nuthugging Arum as leverage to diss Pac. How low can you stoop?

Did I say Pac was 100% to blame?

If you want to take tax experts info fine-but the article said "opined", thats all I pointed out.

Why did you edit your post after I asked?

It seems you will go with anything that absolves manny of any blame.

[richardt]

It seems you will go with anything that absolves manny of any blame.

Did I counter any of the statements up to this point that placed Pac to blame before finding out the latest relevant information? NO. Because up to that point, it looked like Pac was to blame till the latest article on the subject clarified things. And then you come along to downplay the experts without jack sht to rebute what they indicated. That is fuking desperate. I had no problem with Pac being to blame but you jumped in and right off the bat, you had a problem with Pac not being the blame and dismissed the article as if you have more expertise information, which you do not. You really are fuked up in the head if you are so desperate to argue just for the sheer sake of arguing.