Pacquiao Owes The Government 2.2 billion in Taxes

[cast_no_shadow]

Pacquiao bank deposits frozen | Manila Bulletin | Latest Breaking News | News Philippines

Kahit kninita sa abroad taxable? How come OFWs hindi taxable ang income?




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[chua_riwap]

Pacquiao bank deposits frozen | Manila Bulletin | Latest Breaking News | News Philippines

Kahit kninita sa abroad taxable? How come OFWs hindi taxable ang income?


Sent from my iPhone using Tapatalk

exempted ang mga OFWs sa taxes.

kayang kaya bayaran ni packy yan.........
(kung may pera pa. )

[_Qwerty_]

yung tax lang yata sa mga kinita nya dito thru endorsements.. pag na tax na sa US.. hindi na dapat ni ta tax dito.. double taxation na yun diba?

[roninblade]

yung tax lang yata sa mga kinita nya dito thru endorsements.. pag na tax na sa US.. hindi na dapat ni ta tax dito.. double taxation na yun diba?

no it's not. depende sa country yan. for example, my australian colleagues pay taxes here in singapore and they also pay taxes back in australia.

personally speaking, it's a good thing exempt ang tax for OFWs

in Pacquiao's case, he is not considered as an OFW since he works locally too - heck, he is a congressman - so baka taxable din yung earnings nya overseas. somebody who knows tax laws correct me.

[chua_riwap]

anong partido ba si packy? LP ba?

[yebo]

mukhang tama naman yung accountant ni pacquiao ah. there was no need to report the earnings that were already taxed. and if ever there was a need to report it, the taxes due on it is only 3% max (as per philippine laws, for income earned abroad). since the taxes already paid to the US government exceeds that 3% then the tax liability to the philippine government is zero. the law will only require pacquiao to pay the 3% tax if the income was not taxed in the country where he earned it. example is his recent fight in macau where there is no tax, he will have to pay 3% as tax to the philippine government.

like me i do not report my income anymore since taxes are already paid to my country of assignment. the only ofw's that may have to pay (optional kasi for ofw) the 3% are those working in zero tax countries, like in the middle east. wala nga nagbabayad nun e.

[_Qwerty_]

so kung $30M nga ang kinita nya sa Macau:

30,000,000 x 44 = 1,320,000,000 (1.32B) pesos x 3% = 39,600,000 (39.6M ang tax)

ouch!

[NightRock]

mukhang tama naman yung accountant ni pacquiao ah. there was no need to report the earnings that were already taxed. and if ever there was a need to report it, the taxes due on it is only 3% max (as per philippine laws, for income earned abroad). since the taxes already paid to the US government exceeds that 3% then the tax liability to the philippine government is zero. the law will only require pacquiao to pay the 3% tax if the income was not taxed in the country where he earned it. example is his recent fight in macau where there is no tax, he will have to pay 3% as tax to the philippine government.


like me i do not report my income anymore since taxes are already paid to my country of assignment. the only ofw's that may have to pay (optional kasi for ofw) the 3% are those working in zero tax countries, like in the middle east. wala nga nagbabayad nun e.

You mean Legally dapat mag bayad ng Income Tax and OFW??? pag tax free yung bansa kung saan sila naka base?

[marg]

Hilig kasi magpayabang si Packy.

Daming low-key na billionaryo sa Pinas hindi nahuhuli. Kasabay ko sa BMW once yung owner ng cheapie Ludy's peanut butter bumibili ng SUV. Smple dude lang, but loaded.

[jhnkvn]

Hilig kasi magpayabang si Packy.

Daming low-key na billionaryo sa Pinas hindi nahuhuli. Kasabay ko sa BMW once yung owner ng cheapie Ludy's peanut butter bumibili ng SUV. Smple dude lang, but loaded.

The only reason why most people are low-key is because they dislike the idea of taxation. Once you go higher, you'll realize that corruption in the Philippines is so entrenched that well... di ka gaganahan magbayad

Besides, it's best not to attract attention. Lahat naman sa Philippines nababayaran eh. Censor mukha sa media? Those also entail costs. Censor whole body? More expensive. Hindi lalabas pangalan mo sa media? Even more expensive. Killed somebody and you don't want your name on the front page of the newspapers but rather on a small section of the second-page news? 6 digits ka-ching!

You don't just attract the government, you also attract the bad gangs who wants you for kidnap. If it's not you, it's your loved ones.

So yes, low key... is.... key. Unless you can wield your power like the Ampatuans.

[foresterx]

Hilig kasi magpayabang si Packy.

Daming low-key na billionaryo sa Pinas hindi nahuhuli. Kasabay ko sa BMW once yung owner ng cheapie Ludy's peanut butter bumibili ng SUV. Smple dude lang, but loaded.

he's a celebrity, everyone knows he's making millions of dollars. he can't really hide it even if he wanted to unlike rich businessman who could easily live a simple life even if they're making millions.

[uls]

Hilig kasi magpayabang si Packy.

Daming low-key na billionaryo sa Pinas hindi nahuhuli. Kasabay ko sa BMW once yung owner ng cheapie Ludy's peanut butter bumibili ng SUV. Smple dude lang, but loaded.

i don't think it's coz mayabang si Manny

madali lang siya ma-impluwensya ng mga tao sa paligid niya

people around him tell him "Manny pag mayaman bumibili ng bahay sa Forbes. pag mayaman bumibili ng Ferrari. pag mayaman bumibili ng Hermes, pag mayaman member ng Manila Golf Club and Manila Polo Club. pag mayaman pinapaaral ang anak sa international school. pag mayaman may mga body guard, may entourage...."

if you think of it that way you'll understand his behavior

[yebo]

You mean Legally dapat mag bayad ng Income Tax and OFW??? pag tax free yung bansa kung saan sila naka base?

yes. the way i know it is suppose to work is this. if there is a tax being paid to to country of deployment if the tax is greater than 3% then it is tax free. if there is no tax then the ofw is required to pay the tax. may brackets din, 1%, 2% and maximum 3%.

in pacquiao's case since the taxes he already paid in the US (where the income was earned) already exceeds 3% he does not have any obligation anymore to pay to the philippine government. otherwise it will be double taxation. this is true even if he is not a registered ofw since afaik the maximum tax for income earned abroad is 3%, whether it be personal/professional income, business or trade.

as for other nationalities paying taxes to the countries where they work and also paying taxes to their home country, this is, afaik, how the tax is computed. first the employee pays taxes to the country where they work. after paying the tax they get a tax receipt. they then use that tax receipt to either 1.) use as a deductible expense in declaring their income (US, Canada, Australia, UK, France, etc.) or 2.) as some form of tax credit, meaning if the tax rate is higher in their own country then the taxes paid to the host country is deducted from the tax they pay their home country (Indonesia for one). example. tax paid to host country is $1000. tax due to home country is $1200. $1200 - $1000 = $200, which will be the amount he will pay to his home country.

[_Qwerty_]

so it goes the same way, for a foreigner, if the tax he paid in the host country is say $2000 and the tax due to is home country is only $1000.. he will no longer pay his home country as he already paid more in the host country..

yes. the way i know it is suppose to work is this. if there is a tax being paid to to country of deployment if the tax is greater than 3% then it is tax free. if there is no tax then the ofw is required to pay the tax. may brackets din, 1%, 2% and maximum 3%.

in pacquiao's case since the taxes he already paid in the US (where the income was earned) already exceeds 3% he does not have any obligation anymore to pay to the philippine government. otherwise it will be double taxation. this is true even if he is not a registered ofw since afaik the maximum tax for income earned abroad is 3%, whether it be personal/professional income, business or trade.

as for other nationalities paying taxes to the countries where they work and also paying taxes to their home country, this is, afaik, how the tax is computed. first the employee pays taxes to the country where they work. after paying the tax they get a tax receipt. they then use that tax receipt to either 1.) use as a deductible expense in declaring their income (US, Canada, Australia, UK, France, etc.) or 2.) as some form of tax credit, meaning if the tax rate is higher in their own country then the taxes paid to the host country is deducted from the tax they pay their home country (Indonesia for one). example. tax paid to host country is $1000. tax due to home country is $1200. $1200 - $1000 = $200, which will be the amount he will pay to his home country.

[Monseratto]

Dapat ata kasama si Kim Henares...

[CVT]

Mukha yatang ang hinahanap sa kanya ay ang IRS document na nagpapatunay na he paid taxes in the US. Ang ibinigay lang yata ay ang sulat from Top Rank na nagsasabing nagbayad na sila ng tax sa US... 2 years+ na yatang walang ginawa ang kampo ni PacMan....

E ngayon, panalo!!... Ayos!... hahah!



21.7K:outcold:

[_Cathy_]

BIR to Pacquiao: Don't use us as excuse
ANC – 2 hours 23 minutes ago

Boxing champ and Saranggani Representative Manny Pacquiao should stop using the Bureau of Internal Revenue (BIR) as an excuse for not being able to use his money to help people, BIR Commissioner Kim Henares said on Wednesday.

“I just want to clarify, the only thing I object in all this statement. He’s making it appear that he cannot pay his staff’s salary, he cannot continue scholarships, he cannot give relief to the Yolanda victims because of us. But the only thing we have of his money is P1.1 million. So how can he say that he cannot do all these things because we have all his money?” Henares said in an interview with ANC’s Headstart.

Pacquiao has said he wanted help quake and typhoon victims but could not do so because the BIR allegedly froze P2.2 billion of his earnings.

“Matagal ko nang gustong tumulong sa mga nasalanta ng bagyo at lindol. Pero ako po ay hinabla ng BIR ng P2.2 billion peso tax case na walang kabase-base at ang aking mga pera sa bangko ay ginarnish ng BIR. Hindi ako makapag-withdraw ni isang singkong sentimo sa sarili ko pong pera, hindi ko magamit para man lang makatulong. Ang pera kong ginarnish ng BIR ay hindi po nakaw at hindi po PDAF o DAP, ito po ay galing sa lahat ng suntok, bugbog, pawis at dugo na tiniis ko sa boxing,” he said in a statement.

But Commissioner Henares clarified they only garnished two accounts. “The only money we have of his is P1.1 million. So I don’t know where his other money is. If he cannot help people, if he cannot pay people, he should not make us his excuse,” Henares told Headstart.

Henares explained that if Pacquiao paid his taxes in the US, it should be reported to the BIR to be used as credit to his taxes in the Philippines.

“We just want the document that shows that he has filed his return and he has paid the United States. That’s all we’re asking. He alleged in his return that this is how much he has paid. But anyone can allege that. Everything in your income tax return has to be substantiated,” Henares said.

She added “We’ve been waiting for two years for that [documents]. And we’re not singling him out. We’ve given him two years to comply with this. That is much more than we give to other people.”

Henares said they only have Top Rank's letter saying they have paid Internal Revenue Service (IRS).

But Pacquiao’s camp reiterated it has submitted all documents required by the BIR.

In an interview with DZMM, Pacquiao’s lawyer Atty. Remigio Rojas said these include the access code where the BIR can check his tax returns in the US.

“Yung BIR nagrerequire ng original copy ng tax return niya sa America. Hindi naman ganun kasi ang kalakalan ng America. Sa America pag nagbayad ka pwede mo nang kunin doon sa website through the special access code na ibinigay kung magkano ba talaga ang naibayad ni congressman Pacquiao sa Amerika,” Rojas told DZMM.

Sira pala yung Lawyer ni Pacquaio e Ano gagawin ng BIR sa access code nila? Wala din ng silbi yan letter ng Top Rank. Ginagawang tanga ang BIR. Hindi naman tanga ang BIR.

[wowiesy]

mukhang tama naman yung accountant ni pacquiao ah. there was no need to report the earnings that were already taxed. and if ever there was a need to report it, the taxes due on it is only 3% max (as per philippine laws, for income earned abroad). since the taxes already paid to the US government exceeds that 3% then the tax liability to the philippine government is zero. the law will only require pacquiao to pay the 3% tax if the income was not taxed in the country where he earned it. example is his recent fight in macau where there is no tax, he will have to pay 3% as tax to the philippine government.

like me i do not report my income anymore since taxes are already paid to my country of assignment. the only ofw's that may have to pay (optional kasi for ofw) the 3% are those working in zero tax countries, like in the middle east. wala nga nagbabayad nun e.

TAX101

1. A Filipino Citizen (which, last I know Manny Pacquiao is) is taxed for ALL his income.. whether earned within the country, or outside (may mga listed exceptions - but for the purpose of this thread, MP really should be taxed for all his income)... so.. yung trail ng BIR na check all Earnings... nasa lugar (at least on paper)...

2. May tax treaty between Manila and Washington... somehow.. the taxes (perhaps not all, but some as those agreed upon in the treaty) paid in the US (as host country) can be CREDITED in the PH for the purposes of computing total tax due... so in this case.. tama din lang ang trail ng BIR na get the earnings.. then get the actual tax paid... para ma credit...

yung usapan sa media.. well.. nasa Pilipinas tayo... lahat yan na mamaniobra... perhaps MP has a play on this.. and BIR has no choice but to respond thru media lest the government be seen in a bad light, which will ultimately affect the popularity of the one residing in Malacanang...

possilbe na yung letter ni Top Rank ay letter lang... not certification.. as mentioned earlier.. kung accountant sana sa US ang nag issue nun.. maaari din baka tanggapin na... dito nga eh.. certificaiton from bank lang on interest paid ubra na sa BIR eh...

as per interview kanina kay Henares.. 2.2B is total inclusive of penalties and surcharges... so kung 2 years na to.. lobo na talaga to... but on the other hand... BIR also has the tendency to bloat the assessment.. kasi in our tax environment, it is the taxpayer who has the burden of proof on income earned... and allowable deductions incurred... all the BIR has to do is show a semblance of income (no matter how bloated).. it is the taxpayers duty and defense.. to double check what BIR is alleging... sabi nga ni Henares kanina.. mukhang di naman kino contest ni MP yung part ng assessment.. ang kino contest ni MP ay yung taxes paid... style yata dapat dito as a defense.. is to attach both ends: yung basis ng BIR sa assessment which is san nila na base yung earnings / income... to arrive at the computed tax... then secondly.. attack the merits of the taxes being imposed... and the allowed deductions... then sa dulo attack / defend also on the taxes already paid in the US... although sa ganitong laban.. documentation talaga... burden of proof is on the taxpayer.. so minsan.. kung maayos ang records ng taxpayer.. at kita nya exposure nya... titimbangin din.. kung maliit ang nasilip ng BIR... sige na.. kung mas malaki.. laban...

may mga nasagap na ako na experiences.. na say... Letter of Notice issued to taxpayer.. kesyos TPI (third party info)... so lalabasan ka ng assessment na say 100M underdeclared sales... pero di nya ilalabas kung pano nya na compute yung 100M... kung may abilidad ka.. makukuha mo.. kung wala.. or kung inunahan ka ng takot / overwhelmed sa assessment na 100M.. tapos ka na... . now pag nakuha mo yung basis nila sa 100M.. even from BIRs own listing. makikita mo.. bloated.. may mga entries na multiple times lalabas sa listing.. para ma bloat.... sinasadya ba yan ng tao sa baba para kumita... o "honest error" ng system ng BIR.. we never really know... why? it works well for both.. yung corrupt na BIR na empleyado... at sa BIR mismo.... iipitin ang tax payer.. kung mapilitan magsuhol ang taxpayer.. matuwa yung mga tataba ang bulsa sa BIR... pag nagbayad ng may resibo sa BIR.. matutuwa pa rin sila kasi credited sa collection effort nila... so either way.. the taxpayer gets scr*w*d..

which makes the PDAF / DAP issue more painful... iipitin nila taxpayer... mapupunta sa PDAF / DAP... and yet.. tapos yung kaso ng mga senador / congressman will drag for how many years.. they are still called honorable... and yet ordinary tax payer... ipinapasara agad ang negosyo... garnish agad ang assets... tahimik sila o wala sila (BIR) quota sa pagtanggal o sa pag file ng cases sa mga tiwaling BIR na kawani... importante habulin lang taxpayer.. pero sa loob.. hindi nila malinis...

secondly.. I believe the real solution to this is tax education... ieducate ang lahat.. common tao.. businessmen etc... on tax issues... how to compute.. the right way to compute etc.. ano ang pwede.. ano ang di pwede... sa part ng BIR be transparent to the taxpayers.. para mapadali ang tax administration... ang problema sa Pilipinas / BIR.. they prey on the ignorance of the taxpayers.. kasi nga.. either makinabang sarili nilang bulsa .. or credited sa collection effort nila kung talagang nagbayad ng naka resibo sa BIR.. wala silang talo...

pero ang talo.. taxpayer... ang talo.. yung sinasabi nilang BOSS NILA...

[_Qwerty_]

dapat gumawa nang batas na pag ang isang athlete lumaban sa ibang bansa for a belt at nanalo.. hindi na dapat ni tatax yung kita.. binibigyan na nga tayo nang karangalan.. tapos pahihirapan pa.. same with incentives nang mga athletes sa olympics pag naka gold.. hindi naman ni ta tax yun diba..

[shadow]

dapat gumawa nang batas na pag ang isang athlete lumaban sa ibang bansa for a belt at nanalo.. hindi na dapat ni tatax yung kita.. binibigyan na nga tayo nang karangalan.. tapos pahihirapan pa.. same with incentives nang mga athletes sa olympics pag naka gold.. hindi naman ni ta tax yun diba..

amateur and professional... national team members mga olympians, walang kinikita allowances lang nakukuha sa govt kulang pa...para silang scholar ng bayan..and pag nag participate sila sa olympic other international tournaments, they are representing Philippines..not in the case of packy...yes he came from Philippines but don't represent it on his fight at least officially

idol yata talaga ni pacyou si floyd..sinusunod lahat pati problema sa tax ginaya kay floyd next time gugulpihin na rin niya si jenke