Tag Archives: Bureau of Internal Revenue

PHILIPPINES’ TAXWOMAN WANTS $5 MILLION FROM PACQUIAO – CASH ONLY

Henares, left, and Pacquiao
Henares, left, and Pacquiao

Manila, Philippines (The Adobo Chronicles) – Fresh from successfully defending his World Boxing Welterweight crown against American Chris Algieri, Filipino boxing champion Manny Pacquiao came home to a warm welcome from his adoring fans.

Pacquiao beat Algieri in Saturday’s (Sunday, Manila time) bout which lasted the full 12 rounds, with the Filipino boxer winning by a unanimous decision. The fight was held in Macau, China.

Fans held banners and waved miniature Philippine flags as Pacquiao stepped off his chartered plane at the infamous Ninoy Aquino International Airport (NAIA) in Manila.

Among those in the excited welcoming crowd was Kim Henares, commissioner of the Philippines’ Bureau of Internal Revenue (BIR). Henares held a banner that said, “Welcome Home, Mabuhay and Congrats! Now, PAY UP!”

Pacquiao has been in hot water with the BIR in the past for failing to pay taxes on his earnings from previous fights in the U.S. This time, Henares was on hand to personally collect taxes from Pacquiao.

“Based on my calculation, Paquiao owes $5 Million to the BIR from this recent fight,” Henares said.

Pacquiao’s purse for this fight was worth more than $20 Million. The boxer reportedly already paid $1 Million in taxes to the Chinese government.

Asked by The Adobo Chronicles how she intends to collect the taxes due from Pacquiao, Henares said, “Cash only!”

CATHOLIC CHURCH IN THE PHILIPPINES TO START COLLECTING ‘SIN TAX’

File photo: Philippine bishops with former President Gloria Macapagal Arroyo
File photo: Philippine bishops with former President Gloria Macapagal Arroyo

Manila, Philippines (The Adobo Chronicles) – The influential Catholic Church in the Philippines can learn a thing or two from the country’s civilian government, especially around taxes.

The Catholic Bishops Conference of the Philippines (CBCP) is closely monitoring developments within the Bureau of Internal Revenue (BIR) which recently announced that tax collection this year has increased because of the sin tax.

The sin tax is collected from sales of alcohol and tobacco. According to BIR Commissioner Kim Jacinto-Henares, there has been a 29.7 percent increase in excise tax collections in just the first semester of the current fiscal year.  This growth was driven by a 44.44 percent increase in collections from tobacco products and 11.62 percent increase from alcohol.

In an emergency meeting convened last night by CBCP president Archbishop Socrates Villegas, the country’s top prelates strategized on how to deal with the declining church revenue from the Sunday collection baskets.

Citing the success of the BIR’s sin tax collections, Villegas proposed that the church institute something similar. He proposed that instead of asking people to pray Hail Marys or the rosary as part of their penance when going to confession, priests will ask repentants to contribute money to the church, much like a sin tax.  Priests will be given the authority to determine how much sin tax to impose, depending on whether the sins confessed are mortal or venial sins.

Special collection boxes will be installed beside confessional boxes in all churches in the country for this purpose.

The CBCP expects to increase its collections by 200 percent once this proposal is implemented. Villegas said CBCP will ask Pope Francis’ blessing for the sin tax when the head of the Roman Catholic Church visits the Philippines next January.

 

 

 

PACMAN VS. TAXMAN: INTERNAL REVENUE CHIEF FLYING TO LAS VEGAS TO PERSONALLY COLLECT TAXES FROM PACQUIAO

Pacquiao and Henares
Pacquiao and Henares

Manila, Philippines – The Commissioner of the Philippines’ Bureau of Internal Revenue (BIR) is flying to Las Vegas today to personally collect taxes on Manny Pacquiao’s earnings from the latter’s latest championship fight.  Pacquiao on Saturday regained the WBO welterweight title from American Timothy Bradley.  Pacquiao, who won by a unanimous decision, is expected to pocket some $20 Million in prize money, in addition to an unspecified percentage of receipts from Pay Per View’s cable coverage of the event.

In recent months, Commissioner Kim Henares has been after Pacquiao and other high-profile celebrities in what many believe is her personal crusade to prevent her tax agency from bankruptcy. She believes her policy of going after the “big guns” will salvage the BIR from total collapse.

In a statement made to reporters at the Departure VIP Lounge of the Ninoy Aquino International Airport, Henares said she wanted to witness first hand how much the boxing promoter will give to Pacquiao as his prize money. She plans to demand immediate payment of taxes from Pacquiao while she is in Las Vegas.

Henares admitted that her trip to Las Vegas is funded by taxpayer money but insisted that the expense is well worth the tax that will be collected from Pacquiao.