PAQUIAO tax exemption

heya, people out there.. are u agree to pacman's tax exemption?



coz for me, its a bullsh*t idea.



holy god of social discrimination!!!!

 

I don't know coz I'm not a tax lawyer...

 

I don't really care but a lifetime tax exemption isn't a nice idea, it's kay if a tax exemption on his every fights but a lifetime? No.

Also, he has lots of business now & ofc he's a congressman. I don't think that'll work.

 

Remember he is going to be the president of the Philippines and he needs to keep his fortune. He is proposing tax be exempted to athletes who make money on foreign countries, which I think is fair because if that money is not made in Ph then why should he contribute to a corrupt country who in the long run will steal his hard worked money.

 

I understand how Manny worked so hard for that money, ofc he's doing boxing that ain't easy But there are also lots of Filipino who're working abroad and they're not exempted on that said bill.
I'll understand if athletes are exempted but lol..not lifetime. My bro and sis are working in US and they're paying tax too, don't think that's fair anymore. And yeah, i agree that the current government is ****ed up but can't do anything about that.

 

The Bureau of Internal Revenue (BIR) levies income tax on taxable income from within and outside of the country on all citizens of the Philippines, even those working abroad. Of course, another country (e.g. the US) also has the right to tax people for incomes earned within its jurisdiction. In order to avoid the unfair situation where a Filipino earns income abroad and taxed there and is subsequently obligated to pay taxes for the SAME income as a Filipino citizen, the Philippines and the US have an income tax convention as early as 1976, providing for "Relief from Double Taxation". So without having to bore you all with details, it is possible for a Filipino working abroad to be slapped with taxes by the US, but can use this fact as a "Tax Credit" in filing his income tax return in the Philippines.
So what does the Pacman have to do to avoid being taxed twice?
1. He has to pay taxes in the US for income earned therein.
2. He has to secure the official IRS form that the taxes have been paid. A CERTIFICATION FROM TOP RANK BOXING JUST WON'T DO.
3. He has to file an income tax return in the Philippines for the year covered. NOTE that the Pacman has other incomes aside from boxing, such as TV advertisements, product endorsements etc.
4. He has to submit the IRS "tax-paid" form and other tax-withheld forms to support his claim that he should only pay X amount of tax.
5. He should answer in a timely manner all letters sent by the BIR, including assessment notices.
6. If he does not agree with the assessment, he should then avail himself of legal remedies as provided under the Internal Revenue Code.
If he did NOT do any of these, then the BIR has the right to impose the appropriate tax on him, and to run after his properties in the process. Again, it must be stated: DURA LEX, SED LEX. The law is harsh, but that is the law. If the Pacman violated the law, then he should be held answerable.

TL;DR if Pacman already payed the taxes in the US then why is he being rob on the excuse of a law? They confiscated a bank account with P1.1million and they took a property. He payed his taxes in the US and therefore he shouldn't be paying them to the Ph according to the "Relief from Double Taxation" convention, he should receive a tax credit in the Ph.

 

I thought we were talking about "Manny's lifetime tax exemption"?

Lifetime exemption? Oh please D:

And about pacquiao's bir problems, that's obviously not a problem in the first place cuz he can't go home if he didn't payed for his taxes in US.

 

You're right sammy, sorry I derailed the main topic, it was just kinda unfair that case he is going through at moment. But you're right, is ridiculous the tax exemption for life lol you're government is quite the corrupt and is making a circus out of Philippines man.

 

If pacman is not hiding anything he should have already answered the BIR's questions.
When it comes to paying TAX, BIR is not a biased one. (I think ROLF)

 

He doesn't hiding anything, he's even open to the public about the issue. It's just the BIR doesn't accept there receipt from top rank promotions and ignoring Manny's side. Then top rank officials made a move and now what? BIR are speechless, lame lol.
As i've said earlier, Manny can't go home if he's not paying taxes in US and that includes his taxes for PH.

 

becoz he is a filipino, he MUST serve to his own country by paying right tax.

 

Kid, IF he made a 100 million in the United States of Amerca and he already payed the TAXES there then why should he pay for taxes again in the Philippines?

Lets break it down for you.

I sold a 100 oranges in UNITED STATES OF AMERICA, 1$ each and I made a total gross income of a 100$
UNITED STATES OF AMERICA charges 10% of the sold product which would be 10$ worth of tax.
then I go to the Philippines and they want to charge me extra 10$
IF and only IF, I already payed 10$ for the oranges I sold in the UNITED STATES OF AMERICA why should I pay the same amount in my country when I already payed taxes where I made the income? I didn't made the income in the Philippines, why should I contribute then?

it couldn't be simpler than that.

all in all, this is not the subject the subject is about tax exemption for life for manny pacquiao which in my opinion is ridiculous and side bent.

 

oh.. tax exemption is not just for his career as a boxer. It comprises his whole career as a fcking politician, businessman, landowner, etc... >.<

 

he is not hiding anything...just that BIR did not accept what pacman submitted.... the mere fact that the whole issue begun in somewhat, "from the highest tax payer, pacman became the just a 100th+ top tax payer in the country....its really weird for the BIR, since they are very active in Freezing PACMAN's Assets while dont have any idea how the napoles got their fortune, while just paying 9K-10K Php annually, and no knowledge of the fortune, such as sen.enrile, how much this man earns below the table fees from the chinese mining companies in the PHI....