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Temporary Restraining Order Issued In Pacquiao Tax Case - Boxing News
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 Last update:  8/20/2014       Read more by Boxing Clever         
   
Temporary Restraining Order Issued In Pacquiao Tax Case
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MANILA (August 20, 2014The Philippine Supreme Court issued a Temporary Restraining Order (TRO) to stop the enforcement of the Court of Tax Appeals (CTA) ruling which ordered Saranggani Congressman Manny Pacquiao and his wife Jinkee to post a cash bond in the amount of  P3,298,514,894.35 (US$74.9 Million) or a surety bond in the amount of  P4,947,772,341.53 (US$112.4 Million), as a condition for suspending the collection of alleged deficiency 2008 and 2009 income tax and value added tax by the Bureau of Internal Revenue while their appeal is still being heard.

The CTA (First Division) was further ordered to proceed with CTA Case No. 8683 with “deliberate dispatch”.

The TRO is attached.

The Supreme Court likewise enjoined the BIR from issuing, executing, enforcing, implementing, or otherwise giving effect to any Warrant of Distraint and/or Levy, Warrants of Garnishment, and Notice of Tax Lien, and from attempting to collect any tax on the basis of the deficiency income tax and VAT assessments against petitioners for the years 2008 and 2009.

The TRO is to be extended "indefinitely and until further orders".

Cong. Pacquiao and Jinkee thanked God for the welcome development in what has been a bitter dispute with the Philippine tax authorities. The couple were likewise grateful that the Supreme Court was able to urgently act on their Petition. 

Cong. Pacquiao stated, “The issuance by the High Court of a TRO allows both side to have a fair opportunity to present evidence and prove their case before the CTA. I think I have said all that needs to be said in connection with the taxes I have paid in the United States and in the Philippines. Let us now let the legal process take its course. For now, I am just glad I will be able to concentrate on training for my upcoming bout in Macau.”

Tags: Manny Pacquiao


 

 User Comments and Feedback (must register to comment)

comment by bambam182, on 08-24-2014
[QUOTE=ChampBox@PR]You guys are so gullible. This is just PACs adversaries trying to make him not run for president. If he runs he will win easily. This is all a political stunt from PACs opposition aka the people in power right now.[/QUOTE] if pac asked you to suck his dick, would you? be ...

comment by Pain~Lucy, on 08-23-2014
manny should leave his corrupt friends and the Philippines and migrate to US of A!

comment by lefthook2daliva, on 08-23-2014
[QUOTE=ChampBox@PR]You guys are so gullible. This is just PACs adversaries trying to make him not run for president. If he runs he will win easily. This is all a political stunt from PACs opposition aka the people in power right now.[/QUOTE] Who's gullible? Arum gets to Pac's political oppo...

comment by Masters01, on 08-23-2014
[QUOTE=Kadena]Pinoy government is salty as fuk towards Pacquiao. I know when Obama gave manny a shoutout when he made a speech in the Philippines they looked pissed lmao. Manny is the most relevant Filipino in the history of the Philippines he deserves more respect from his country's leaders.[/QU...

comment by jas, on 08-23-2014
[QUOTE=ChampBox@PR]You guys are so gullible. This is just PACs adversaries trying to make him not run for president. If he runs he will win easily. This is all a political stunt from PACs opposition aka the people in power right now.[/QUOTE] Great point :notworthy

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