Paquiao VS. The Philippines - Who Will Win?

Philippines
December 18, 2010 10:59pm CST
Recently in the news the BIR said that there is something wrong with the taxes of Manny Paquiao in year 2009 because according to the BIR last 2008 Paquiao is one of the highest tax payer who gave more than 120 Million Pesos in his TAX but in the year 2009 he only gave 7.5 Millions Pesos in according to their investigation he has the same number of games 2008 and 2009 and with regard to his advertisements he has lots of advertisements in the year 2009. Many fights of Paquiao to other countries he always win and offers it to his country the Philippines but this time the battle is between Paquiao and the Philippines, who do you think will win?
1 response
@gloryacam (5546)
• Philippines
20 Dec 10
Paquiao. Maybe. If he gets a good tax lawyer. If only somebody could give him my number Seriously, there could be reasons behind the discrepany, and once these issues are threshed out, then we would know.
• Philippines
20 Dec 10
Really? Can Paquiao still regarding this issues that from a 125 million tax in 2008 it became 7 million in 2009 and 2010 is about to end and we don't know how much did he pay in 2010.
@gloryacam (5546)
• Philippines
20 Dec 10
Of course we should know all the details of his transactions in 2009. Even if he earned the same in boxing in 2009 if he incurred a lot of losses in some other business, then it could have lessened his tax dues. But, we don't know all the details, so we can't say for sure. I would imagine he hasn't paid the taxes for 2010 yet because the year is ongoing. The taxes can be paid until April 15 of next year.
• Philippines
21 Dec 10
I have noticed that you know a lot about taxes, I just want to ask if Business income taxes is different from the personal income tax?