clock menu more-arrow no yes mobile

Filed under:

Manny Pacquiao wins temporary reprieve in tax evasion case

Pacquiao avoids paying an enormous cash bond while his income tax evasion case continues.

Jeoffrey Maitem

Manny Pacquiao's biggest problem right now isn't Chris Algieri--it's a tax problem which amounts to about US$75 million. The Philippine government is waging a "bruising war" on tax evasion, and Pacquiao is being targeted in the high-profile effort.

From what I can gather, Pacquiao claims he paid his income taxes for 2008 and 2009 here in the United States. We apparently have an agreement with the Philippines that protects citizens from double taxation.

Well, the Philippine government ain't buying it, and they're going after Pacman for 3.3 billion pesos (about $75 million). The government has previously frozen some of Pacquiao's assets in his home country, but they agreed to lift the freeze if Manny paid the cash bond in full.

Pacquiao's side countered that posting the cash bond was equivalent to the asset freeze and fought it. Yesterday, the Supreme Court in the Philippines found in favor of Pacquiao and lifted the bond requirement, which amounted to his full tax liability plus interest.

So, that's where we stand. The case itself is ongoing, and yesterday's ruling also included a provision to "hurry up", as the case began last year and is still in pre-trial stages.

Sign up for the newsletter Sign up for the Bad Left Hook Daily Roundup newsletter!

A daily roundup of all your global boxing news from Bad Left Hook