Filipino boxing champion Manny Pacquiao made a tweet saying “I can easily beat Floyd Mayweather Jr. I believe that”.
I can easily beat @FloydMayweather, I believe that.
— Manny Pacquiao (@MannyPacquiao) January 20, 2015
One thing he should worry about is Commissioner Kim Henares of the Bureau of Internal Revenue (BIR).
“With this Manny Pacquiao coming mega fight with Floyd Mayweather Jr. I am very happy and glad that he will again contribute his winnings in our economy. Hindi naman sa akin, and I will not get anything in return.” Kim Henares said.
“Based on our assessment, for instance, Pacquiao made at least P1 billion for this coming fight with Floyd, he will have to pay the Philippine tax rate of 32%, or P320 million, in taxes and for Manny Pacquiao, since he is a national pride a boxer and athlete we can give him 1% tax discount”. Kim added.
Pacquiao is currently facing a tax liability case amounting to an estimated P3 billion.
Pacquiao’s accountants have been criticized for the boxing champ’s tax woes, which hounded him since last year.
Henares’ advice to Pacquiao: Hire a professional
“Ang laki-laki naman ng kinikita niya, siguro naman dapat mag-hire din siya ng tamang tao na professional, na makakatulong sa kanya at hindi lang ‘yung mga taong nagte-take advantage sa kanya at walang binibigay na tamang serbisyo,” Kim said.