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SBD Global/August 26, 2014/Finance

Boxer Manny Pacquaio Wins Round One In Battle With Philippines Tax Authorities

Boxer Manny Pacquiao "won round one in his battle against the Philippines tax authorities," according to Unus Alladin of the SOUTH CHINA MORNING POST. Pacquiao has been "waging a year-long war with Philippines authorities on charges of tax evasion, even though the 35-year-old Filipino insists his income taxes have been fully paid in the United States." Pacquiao has won a "tax reprieve from the Philippines Supreme Court, meaning he will not be asked to pay" a $75M cash bond -- at least temporarily. It also means the Philippine government has been "banned from freezing any of his assets." His tax case is "still ongoing." Pacquiao: "God has answered my prayers with the Supreme Court giving us a chance to explain ourselves. It's a good result. I am honest" (SCMP, 8/25).
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