Tag Archives: Bureau of Internal Revenue

Entertainment, Government, International

HUGE WELCOME, TICKER TAPE PARADE AND TAX RECEIPT AWAIT “ASIA’S GOT TALENT” GRAND WINNERS

May 15, 2015 Pol Pinoy Leave a comment

MANILA, Philippines (The Adobo Chronicles) – El Gamma Penumbra, the Filipino shadow performing group that was the grand winner in the first season of “Asia’s Got Talent” will be treated to a huge welcome by their fans and supporters when they return to Manila from Singapore.

A motorcade will take them from the Ninoy Aquino International Airport to Malacañang Palace where they will be personally greeted by President NoyNoy Aquino. The motorcade will pass through main thoroughfares in Makati where ticker tapes and confetti will be showered from the city’s tall buiildings.

The group will also be personally met at the airport’s VIP lounge by Bureau of Internal Revenue Commissioner Kim Henares who will have a tax receipt booklet in hand as she collects up to 30% of the group’s $100,000 (4.4 Million pesos) prize money.

Henares is known to be a tough tax woman, always ready to collect the government’s share of international prize winnings by Filipino celebrities, not the least of whom is Manny Pacquiao.

Pacquiao’s prize money from his May 2nd fight with Floyd Mayweather is estimated at $150 Million. That’s a whopping 6.6 BILLION pesos.

It is therefore not suprising that President Aquino is claiming that the Philippines is no longer the “sick man” of Asia, thanks to all that tax revenue.

International, Law Enforcement, Sports

PHILIPPINES’ TAX WOMAN WANTS TO CONFISCATE MANNY PACQUIAO’S NEW BEVERLY HILLS MANSION

March 18, 2015 Pol Pinoy Leave a comment

LOS ANGELES, California (The Adobo Chronicles) – World Boxing Organization (WBO) welterweight king Manny Pacquiao has bought a Beverly Hills mansion formerly owned by Sean John Combs, popularly known by his stage names Puff Daddy, Diddy and P. Diddy.

Diddy is an American rapper, record producer, actor and entrepreneur. He and Jennifer Lopez were once a couple.

Elsa Nelson, vice president and manager of real estate firm Nelson Shelton & Associates, said three bidders had signified interest in buying the prime estate. “The two other bidders offered a much higher price but the current owners decided to sell it to world boxing icon Manny Pacquiao,” Nelson said.

Various media reports put the cost of the mansion at about $12 million (P540 million).

Immediately after being informed of the purchase, the Philippines’ taxwoman, Bureau of International Revenue Commissioner Kim Henares, filed a petition with the U.S. Internal Revenue Service (IRS) for the garnishment of Pacquiao’s new mansion, as payment for back taxes that the Filipino boxer reportedly owes the Philippine government.

It is no secret that Henares and Pacquiao have been long at odds over what Henares claimed to be the boxer’s unpaid taxes from his U.S. boxing fights’ prize winnings.

Pacquiao will fight American Floyd Mayweather on May 2 at the MGM Grand in Las Vegas in what is being billed “The Fight of the Century.”

Economy, Politics, Sports, Travel

IN THE PHILIPPINES, MILLIONAIRES GET TAX EXEMPTIONS WHILE ORDINARY CITIZENS PAY MORE

March 1, 2015 Pol Pinoy Leave a comment

Metro Manila train commuters pay more for long lines

MANILA, Philippines (The Adobo Chronicles) – Last January 4, base transportation fares on Metro Manila’s Light Rail Transit (LRT) Lines 1 and 2, and the Metro Rail Transit (MRT) Line 3 were increased from P10.00 to P11.00 plus P1.00 per additional kilometer.

Department of Transportation and Communication Secretary Joseph Emilio Abaya said the increase, which he called “a tough decision” that had to be made in order to bring improved services on the MRT and LRT lines.

Metro Manila’s rail lines, particularly the MRT-3, have been the subject of complaints from commuters because of congestion and frequent delays caused by glitches and breakdowns.

During last week’s Adobo Tour, our our publisher, editor and star reporters personally experienced the long and winding lines to get to the ticket booths, to wait for trains to arrive and to exit the platforms. Not to mention having to wait for the next two trains because only 3 to 4 incoming passengers at a time can be accommodated in the sardine-packed train cars.

But while daily commuters have to deal with less take home pay from their already meager salaries, millionaires who own several airconditioned luxury vehicles and have so much money they could charter an entire Boeing 747, are beng granted tax exemptions by the ever-brilliant, grandstanding Philippine legislators . Manny Pacquiao, for example.

Senator Aquilino “Koko” Pimentel III has proposed to grant a special tax exemption to Pacquiao to inspire him in his megafight with American Floyd Mayweather Jr. on May 2, 2015 (May 3 in Manila).

Pimentel said the special tax incentive was a “fitting tribute to the priceless package of proudly promoting the country once again in the international map.”

Pacquiao, an elected congressman from his hometown of Saranggani, has been in trouble with the Bureau of Internal Revenue (BIR) in recent years for alleged failure to pay taxes on his earnings from his championship fights in the U.S.

BIR Commissioner Kim Henares who has a reputation for going after celebrities for their prize winnings abroad, has not commented on the proposal by Pimentel.

So, for tax-free living in the Philippines, run for public office or take up boxing for a profession!