Manny Pacquiao cleaned up his falling boxing reputation with a sound beat down over American boxer Brandon Rios in Macau this past weekend. For better or worse, however, the famed boxer looks to be facing yet another fight, although this time it’ll take place in a courtroom, not the ring. Mr. Pacquiao has been charged with tax evasion, which could jeopardize both his boxing and political career.
Apparently, the Filipino government has frozen the bank accounts of both the boxer and his wife. The government accuses Pacquiao of failing to pay his taxes on pay-per-view fights in both 2008 and 2009, and claims that the boxer has failed to respond to tax assessment inquiries since 2010. The Filipino tax authority claims that Mr. Pacquiao owes some $50 million dollars in back taxes.
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Pacquiao claims that he paid all the taxes
Mr. Pacquiao claims that he paid all of the appropriate taxes in the United States and due to tax treaties between the Philippines and the United States, he does not owe any taxes. Mr. Pacquiao has noted that the United States has not charged him with any crimes and claims that this case is merely harassment by some of his political opponents. Mr. Pacquiao also claims that the IRS never issued him the official documents that the Filipino government has been asking for.
Mr. Pacquiao has also noted that the case is preventing him from sending aid to typhoon victims because his accounts are frozen. The boxer has borrowed some money to send aid to typhoon victims but claims that the government is hindering his efforts to send more money. Thousands are still suffering in the aftermath of one of the strongest storms in history.
Pacquiao’s promoters have also chimed in, claiming that Mr. Pacquiao has paid all appropriate taxes and will eventually be cleared of the charged. Promoters echo Pacquio’s claims that he paid taxes on the pay-per-view fights in the United States and the treaties in place prevent double taxation. If Mr. Pacquiao can prove that the appropriate taxes were paid, the case should wrap up quickly.
Allegations come at a bad time for Pacquiao
Either way, the allegations come at a bad time for Mr. Pacquiao. Up until his last fight, many believed that Mr. Pacquiao was losing his touch. His dominant performance, however, has added new momentum and talks of a long awaiting Pacquiao-Mayweather fight are once again picking up steam. Fans have been clamoring for the super-star matchup for years, but previous disagreements derailed talks of holding the fight.