Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid

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MANILA, Philippines -- Despite returning like a hero from beating Brandon Rios over the weekend, Manny Pacquiao said Tuesday he has no money to keep his promise to help typhoon victims because Philippine revenue authorities have frozen his bank accounts.

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The Bureau of Internal Revenue says Pacquiao hasn't proved he paid taxes in 2008-2009. It has assessed that Pacquiao, once one of the world's highest paid athletes, owed 2.2 billion pesos ($50 million) in back taxes as of July.

Pacquiao, the wealthiest member of the Philippine Congress, said Tuesday he borrowed over 1 million pesos ($22,700) to purchase relief supplies before his fight Sunday with Rios in Macau and will borrow more to keep his word to typhoon victims.

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Revenue Commission Kim Henares, however, said that the only proof Pacquiao has given of his tax payments was a letter from promoter Top Rank and HBO of the taxes he has paid to the United States, but nothing from the U.S. Internal Revenue Service.

"That is self-serving and a mere scrap of paper," she said. "What he can do is go to the IRS, ask IRS to certify this copy (of his tax payments) as a true copy. We have been waiting for that for two years."

She said of 22 banks her agency has ordered to report on Pacquiao's accounts, only two said they held deposits for Pacquiao and that the total was only 1.1 million pesos ($25,200), which is now covered by the garnish.

"It is unbelievable to me that he has only 1.1 million pesos," Henares said.

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