MANILA, Philippines (The Adobo Chronicles) – If you think the “Fight of the Century” is over, think again.
It is just unfolding in Manila, between Filipino champion boxer Manny Pacquiao and champion taxwoman Kim Henares of the Philippines’ Bureau of Internal Revenue (BIR).
In the last three years, Henares, BIR commissioner, has been going aftger Pacquiao for alleged tax deficiency now amounting to Three Billion pesos. Because of the boxer’s failure to pay taxes, the BIR has now issued a levy and garnishment order which puts Pacquiao’s properties in danger of confiscation by the government.
Pacquiao has just announced his candidacy for senator, after having served as congressman representing his province of Sarangani. He holds the honor of being the top absentee Congressman.
If he becomes senator, he would go down in history as the highest tax-evading
MANILA, Philippines (The Adobo Chronicles® ) – The Philippines’ tax woman, Bureau of Internal Revenue Commissioner Kim Henares, just can’t wait to lay her hands on Filipino champion boxer Manny Pacquiao, a member of Congress.
Pacquiao is the richest member of the House of Representatives and the only billionaire.
Based on his 2014 statement of assets, liabilities and net worth (SALN), Pacquiao is worth P1.6 Billion, an increase by P343 Million from the year before.
However, the figure does not include the reported $150 Million Pacquiao earned from his fight with American Floyd Mayweather last May. That alone is equivalent to P6.6 Billion which is six times his net worth in 2014.
In a statement following the release of Pacquiao’s 2014 SALN, Henares told reporters, “I want Pacquiao to pay up now and not wait for next year. We need the money to cover the billions of pesos we lost in last year’s pork barrel scam involving businesswoman Janet Lim Napoles, senators and other elected officials.”
Henares said Pacquiao should show that he is sincere in his role as a public servant and elected official by voluntarily paying all taxes due. “He should do it now, and not wait for next year,” she added.
Seven of the richest members of the House of Representatives have grown richer by a combined P1 billion, while former first lady Imelda Romualdez Marcos of Ilocos Norte has gone poorer by P5 million.
Still, Marcos is the third wealthiest House member and is worth P917.8 million, based on her 2014 SALN. She became poorer because she increased her liabilities from P10 million in 2013 to P15 million. The value of her real properties remained the same at P920 million and personal assets at P12.8 million.
The second richest congressman, Speaker Feliciano Belmonte Jr., grew his wealth by P102 million, from P819.7 million to P921.6 million.