BIR's list of biggest taxpayers for 2009

[tidus1203]

Because the Chinese don't take income from their companies they revolve it and that's how they become rich. Mga Pinoy pag may kita na kuha na ng kuha...

[uls]

...tapos bibili ng kung anu ano... tapos pag bumagsak ang negosyo magbebenta ang gamit, mag sasangla ng lupa

[chua_riwap]

Ako man nagulat. Si Pacquiao nasa 113th place lang this year? While noong 2008, P125M na pala binayaran nya, which pales in comparison w/ Menyek's P57M this 2009.



http://www.abs-cbnnews.com/business/...x-payment-2009

BIR questions drop in Pacquiao's tax payment in 2009


MANILA, Philippines - What happened to eight-division boxing champ Manny Pacquiao's multimillion-dollar earnings in 2009?

This is the question on the minds of Bureau of Internal Revenue (BIR) officials upon learning that champion boxer paid only P7.41 million (approximately $168,918) in taxes for 2009 compared to P125 million (approximately $2.8 million) in 2008.

Pacquiao had two prize fights in 2009, both of which he won. The Filipino fighter knocked out British boxer Ricky Hatton in their May 2, 2009 fight and then followed it up with a TKO over Puerto Rican pugilist Miguel Cotto in November 14 of the same year.

In the Hatton fight, Pacquiao earned a reported $12 million for just 2 rounds of boxing. He also got an estimated $22 million for the Cotto fight, which included his fight purse and pay-per-view earnings.

In an interview, BIR Commissioner Kim Henares said the bureau was surprised that Pacquiao only ranked 113th in the list of top individual taxpayers for 2009, considering he had been topping the BIR annual list for the past years.

"Offhand, ang unang reaksyon namin ay bakit nagkaganito? Tinignan namin kung mayroong nag-iba sa 2008 at 2009. Wala naman kaming nakitang pagkakaiba. If there is no material difference or there is improvement, the tax should be the same or even higher. If there is a large discrepancy, we start thinking and we ask the taxpayer what happened and why their tax payment is so low," she told ABS-CBN's "Umagang Kay Ganda."

Meanwhile, Pwersa ng Bayaning Atleta party-list Rep. Miles Roces said the Pacquiao camp was also surprised by the steep drop in the boxer's tax payments. "We were also surprised by the report. Very glaring yung disparity. The chief of staff ng office ni Manny na si Jeng Gacal looked into it and talked to the his accountants who said that his earnings from abroad have yet to be reflected. So the only thing reflected is his local earnings," he said in the same interview. He said Top Rank boss Bob Arum is also in the country to clarify the matter of Pacquiao's income. "Hindi yata naipasok ng maayos. He also has taxes in the US that are still being fixed by the promoters...Once the money comes in, hindi maglalayo sa mga binayaran niya nung ibang taon," he added.

The BIR chief, however, questioned how Pacquiao could not have gotten his earnings in the Hatton and Cotto fights which were a year ago.

"I have a problem with the timing issue. He had two fights in 2009, the first was in May, the second in November. If he didn't get the money for the first fight after 9 months, then he should have sued and I haven't heard reports of him suing anybody in the US because of the earnings. So let's see if this is true," she said in a separate dzMM interview. She said that since Pacquiao is not a US citizen, the prizes should already be taxed before the money is given to him. She noted that the US Internal Revenue Service is much stricter in imposing taxes.

"I'm not sure if this is true but if you are not a US resident, when you are paid the taxes are already deducted. That is the normal procedure. But let's see his records. The procedure is - if you earn P100 million in the US and P50 million in the Philippines, you report P150 million earnings in the Philippines. You compute the tax, let's assume its 32% so it's P50 million pesos. Now if he pays P30 million tax in the US, that is deducted from the P50 million so you pay P20 million," she said.

Roces said Pacquiao, who is already a congressman representing Sarangani province, is aware of the situation and will do what is right for the country.

"Sa history ni Congressman Pacquiao, he does not shirk his responsibilities as a taxpayer. We always joke that he is the top individual taxpayer. That is a running joke. Be assured that once we get all the details on the income that he get in the fights in the US, he will pay his obligations. He will not hide from it. He has no intention not to pay his taxes," he said.

[jimnyeatworld]

kung ako nga yun tatlong business kong sinara, ang tiga-imprenta ng resibo ko tiga-BIR eh hehehe for 9 years.

kaya ko nga ci-nlose na eh. the heat is on. bum muna ako ngaun

[fourtheboys96]

yung income ni pacman sa laban sa US may tax sa Pinas??? hindi ba considered siya na OFW or kung hindi man, may tax na sa US yun kasi dun niya kinita. hindi naman sa pinas kinita yun.

hmmm, hindi ba sapat na dalhin na lang ni pacman yng dollars niya from US to Pinas at dito niya gastusin???

yung endorsements niya dito sa Pinas dapat may tax talaga yung kinita.

[wowiesy]

yung income ni pacman sa laban sa US may tax sa Pinas??? hindi ba considered siya na OFW or kung hindi man, may tax na sa US yun kasi dun niya kinita. hindi naman sa pinas kinita yun.

hmmm, hindi ba sapat na dalhin na lang ni pacman yng dollars niya from US to Pinas at dito niya gastusin???

yung endorsements niya dito sa Pinas dapat may tax talaga yung kinita.

maaaring hindi imposible na bumaba ng ganoon kalaki ang binayaran nya... just because bumaba ng ganoon kalaki, it doesn't mean na may hocus pocus na na ILLEGAL.. pwede naman mag hocus pocus basta legal...

some ways to do it:

- based on some press releases, parang lumalabas na hindi pa nya nakukubra ang winnings nya, prize money nya... but if you think about it, you have to review the contracts in these fights... porke ba ang nakalagay sa media / dyaryo ay 20M USD, you'll take it with hook line and sinker? shempre that's the total, eh may cut pa yung kanya kanyang mga staff (coach, nutritionist, manager, promoter, etc.. ) so yung 20M na yan, liliit pa yan...

- i would think that may tax treaty between US / PH... and i would think for a treaty, may provision yan na between these 2 countries, kahit na total income globally ang taxable, a certain tax payer is protected from having to pay double taxes (meaning nagbayad ka na ng tax sa isang bansa, babayad ka uli sa kabilang bansa)... so, the taxes paid in the US because of these winnings, iaawas pa yan to come up with total tax payable here in PH...

- idagdag pa yung ibang companies na naitayo nya... kahit ba may mga endorsements sya dito... the contract may be a huge amount, pano kung hulugan? or long term payment (since long term din ang contract?)... for Manny kailangan nya rin naman yung mga endorsements nya... it makes it easier for him to get elected / reelected...

Commissioner Kim (BIR) i believe rose from the ranks (LTS pa yata kung di ako nagkakamali) ng BIR kaya i'm sure she is aware of all the avenues available to the taxpayer like Manny Pacquiao.. ang question is, do the ROs, Supervisors, RDOs know these?

possible din na down the ranks, hindi na rin masyado nagtatanong ang mga BIR employees... malaking tao na si Manny... kung ipitin mo, he has friends in high places... mahirap na baka biglang ma reassign sa Jolo or Basilan...

ang pagkakaiba lang talaga... is that for Manny, BIR Commissioner pa, on record sa media, saying we have to look into the details to find out why bumaba ng ganoon ang tax payment... whereas nung sa Villarica Pawnshop, tirada agad sa speech at press release....

is that double standard ?

[chua_riwap]

The BIR also made their own "Wow! Mali!" The faux pas was corrected by Comm. Kim Henares on the ANC this afternoon.

Rosabelle C. Bandong, who's on the 2nd spot paid only P57T & not P57.87 million
Francis Carlo D. Taparan, who's supposed to be the "4th highest taxpayer" paid only P38T 7 not P38.75 million.......

[wowiesy]

The BIR also made their own "Wow! Mali!" The faux pas was corrected by Comm. Kim Henares on the ANC this afternoon.

Rosabelle C. Bandong, who's on the 2nd spot paid only P57T & not P57.87 million
Francis Carlo D. Taparan, who's supposed to be the "4th highest taxpayer" paid only P38T 7 not P38.75 million.......

ilang decimal place ang mali? hmm... baka naman yung ilan decimal place ay yung totoong binayad ng taxpayer, at yung "corrected" ay yung ipinasok ng sindikato sa BIR sa kaban ng bayan... hehe...

kung ganyan lagi sila magkamali sa records nila... di katakataka na laging di naaabot ang collection target nila!

[olidotcom]

everything's manually encoded kasi. prone to errors.. tapos ngayon pa lang sila gagawa ng action to ensure na hindi mangyayari to ulit..

eh usapang pera yan.. delikadong magkamali.