Friday, April 4, 2014

BIR reminds Pacquiao: Declare profit from Bradley battle


The Bureau of Internal Revenue has reminded boxing champ and Sarangani Representative Manny Pacquiao to keep an eye on his assessment obligations as he apparatuses up for an alternate multi-million battle this time around. 

BIR Commissioner Kim Henares said the office trusts the boxing champ has taken in his lesson after slapped with a P2.1 billion duty avoidance case for 2008 and 2009, which is under request. 

"Whatever he wins from that battle he need to pronounce it in his ITR [income charge return] in 2014. Siguro naman by now natuto na siya kung ano ang dapat niyang gawin. Meron naman siyang abogado, dapat might bookkeeper siya," Henares said. 

(By now, we trust he has taken in what to do. He has a legal advisor. He ought to have a bookkeeper also.) 

The BIR additionally said that charges he pays in different nations might be deducted in his expense liabilities in the Philippines however just with fitting documentation. 

"Kung nagbayad ka ng buwis sa ibang bansa, pwede mong i-awas iyon doon sa 32 percent pero kailangan recorded," Henares said. 

Pacquiao is situated to battle against Timothy Bradley on April 12 in Las Vegas.

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