Advertisement
Advertisement

Temporary Restraining Order Issued In Pacquiao Tax Case

MANILA (August 20, 2014)—The 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 image  
User Comments and Feedback (Register For Free To Comment) Comment by bambam182 on 08-24-2014

[[email protected];14878680]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…

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

[[email protected];14878680]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…

Comment by Masters01 on 08-23-2014

[QUOTE=Kadena;14874187]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…

Comment by jas on 08-23-2014

[[email protected];14878680]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…

Post a Comment - View More User Comments (57)
Top Headlines De La Hoya on Canelo-GGG: We Can't Afford To Wait Beyond 2017 Chocolatito: Cuadras Talks A lot, But I'll Prove it in The Ring! Golovkin: No Big Fights at 168, I Make 160 Easy - I'm Not Big 160 Juanma: Business Opportunity Made Me Return, Not Vazquez Morrison, Golub, Baranchyk, Peterkin Head To 9/23 ShoBox Robert Guerrero: I'm Ready For a World Title Shot Right Now! Photos: Gennady Golovkin, Roman Gonzalez Big Bear Media Day Saunders Still a Possibility for Canelo, Golden Boy Focused on Smith Jon Fernandez, Jose Roman Ink Pacts With Lou DiBella De La Hoya: Canelo a 154-Pounder, Will Fight Golovkin When Ready! Jarrell Miller's Promoter: He's Ready For Any World Champion Canelo: Margarito Fight Will NEVER Happen, He Should Retire Ramiro Carrillo, Achour Esho Return on October 1, UIC Pavilion Joshuanthony Ortiz, Edgardo Laboy Ink Pacts With Miguel Cotto Canelo Admits Move To 160 is Likely Next For His Career Mason Menard Puts a Target on The Back of Terry Flanagan Anthony Joshua-David Price Ruled Out For The Fall By Hearn James Kirkland Arrested Over Child Support Beef Photos: Anthony Crolla, Jorge Linares Go Face To Face Photos: Glowacki, Usyk - Go Face To Face at Open Workouts Jessie Vargas: "On November 5th I Will Shut The Critics Up!" Daniel Jacobs: Brook Just Too Small To Survive Against Golovkin Golovkin Laughs at Froch, Eubank: Those Clowns Won't Fight Me! J'Leon Love Will Face Dashon Johnson on September 16 Marlon Tapales vs. Paul Butler in The Works For The Fall De La Hoya: Canelo-Smith Will Have Up To 60,000 Fans at Venue! Frampton: The UK Has 14 World Champions - Not All Are Legit! Gerard Carroll To Fight Twice In Eight Days De La Hoya: Canelo-Golovkin Won't Take 6 Years, But Not Now Daniel Geale vs. Renold Quinlan, Vacant IBO 168 Belt on 10/14 Tom Brown Reflects on The Lost Art of Building a Fighter Amir Khan Plans To Fight in January, May and December Caleb Plant Dominates De Angel in PBC on FS1 Main Event Jhonny Gonzalez vs. Hirotsugu Yamamoto Card Coming Together Canelo-Smith on Pace To Outdo Pacquiao, Says Golden Boy VP Video: Abel Sanchez on Brook, Andre Ward, 160 Landscape Video: Loeffler Talks Brook-Golovkin, Jacobs, Carl Froch, More Video: Gennady Golovkin Talks Kell Brook, Unification, More Video: Roman Gonzalez Talks Cuadras Clash, Training Camp LaRon Mitchell Expects Tough Fight With Mario Heredia
Advertisement

Latest Active Forum Threads
Advertisement
Advertisement