It is now a worldwide knowledge that Manny Pacquiao, the great Filipino boxer is always in the watch list of the Bureau of Internal Revenue for tax purposes. This even reached to the point that Manny’s assets were garnished until he makes settlements. Well, as expected, the Pacquiao camp will not just pay a substantial amount without a fight and, here’s the result of the first bout with BIR:
MANILA, Philippines (UPDATED) – Rep. Manny Pacquiao apparently won the first round against the Bureau of Internal Revenue (BIR) after the Court of Tax Appeals (CTA) ordered the bureau to stop garnishing the boxer’s properties. http://www.abs-cbnnews.com/sports/04/23/14/pacquiao-wins-round-1-bir-tax-case
The condition bestowed by the court for Manny Pacquiao to pay a bond equivalent to the taxes owed is fair enough. It will serve as a guarantee that Manny can pay on time when the exact amount of the tax owed is determined despite the ongoing battle. May this continue to result into a mutually beneficial arrangement for both parties.