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SPEEDY
Lamar Fan
2005 Tiger Smack Poster of the Year
Member since Dec 2003
66600 posts

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

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.


quote:

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.




quote:

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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This post was edited on 11/26 at 9:39 am


Ellunchboxo
New Orleans Saints Fan
STA
Member since Feb 2009
15213 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
It's all in his mama name.


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jacks40
LSU Fan
Member since Oct 2007
11672 posts

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


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Broski
USA Fan
Member since Jun 2011
29603 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
Hey Manny, you can make all that debt go away with one fight.


chesty
USA Fan
Flap City C.C.
Member since Oct 2012
12495 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
Nah bro all of his shite is hidden
This post was edited on 11/26 at 9:42 am


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SPEEDY
Lamar Fan
2005 Tiger Smack Poster of the Year
Member since Dec 2003
66600 posts

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

Hey Manny, you can make all that debt go away with one fight.



He knows who to call to make it happen




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SpartyGator
Florida Fan
Texas
Member since Oct 2011
45324 posts

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


SPEEDY
Lamar Fan
2005 Tiger Smack Poster of the Year
Member since Dec 2003
66600 posts

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




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skullhawk
LSU Fan
My house
Member since Nov 2007
11317 posts

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

owed 2.2 billion pesos ($50 million) in back taxes as of July.


No wonder he's hiding his money. What kind of tax rate is this? This is just for 08-09?


SouljaBreauxTellEm
Iona Fan
Mizz
Member since Aug 2009
29306 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
those taxes are a biatch.. and manny has always had a problem saying no to people and his country giving out money like crazy.



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SouljaBreauxTellEm
Iona Fan
Mizz
Member since Aug 2009
29306 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
btw the gifs in this thread crack me up


BIGDAB
Grambling Fan
Go for the Jugular
Member since Jun 2011
7468 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
It's sad really.


Read this if you have time

Can't say NO


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SPEEDY
Lamar Fan
2005 Tiger Smack Poster of the Year
Member since Dec 2003
66600 posts

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




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saintsfan92612
New Orleans Saints Fan
Xi'An
Member since Oct 2008
24295 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
no shite. I just looked it up and I haven't seen anything saying he made more than $30 million in 2008.

Those backtaxes are a bitch.


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WG_Dawg
Georgia Fan
Atlanta
Member since Jun 2004
66016 posts
 Online 

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

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.


This is great and all, but umm...if I owe 50 million dollars and am practically broke, I'm not donating shite to anybody.


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
351261 posts
 Online 

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
i doubt he's broke. hiding money is much more likely and he's just doing all of this to act broke


Goldrush25
Washington Fan
San Diego, CA
Member since Oct 2012
14606 posts

re: Manny Pacquiao is broke; he had to borrow $22k to give for typhoon aid
Could make a quick $100 million with 2 fights with Mayweather. Bob Arum is screwing Pacquiao over, big time.


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WG_Dawg
Georgia Fan
Atlanta
Member since Jun 2004
66016 posts
 Online 

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

i doubt he's broke


Yeah it seems impossible, but

quote:

hiding money is much more likely and he's just doing all of this to act broke


why? What does he have to gain by acting broke? I mean if he wants to walk around the streets like Joe Everyman I get that..but when the IRS is freezing your accounts because you owe taxes from 5 years ago, I'd say the jig should probably be up at that point yes? And he can still "act" broke..just quietly send them a check for the $50M and go on about your life.


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
351261 posts
 Online 

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

why?

why does anybody hide money? taxes

quote:

What does he have to gain by acting broke?

apparently, about $50M



WG_Dawg
Georgia Fan
Atlanta
Member since Jun 2004
66016 posts
 Online 

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

why does anybody hide money? taxes


True, I guess I just don't understand the mindset. For a normal working stiff I can see wanting to keep a little extra to buy a new dishwasher or pay off the house. But Manny could still pay all the taxes he's supposed to and still be one of the richest people on the planet.


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