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Boxing Superstar Pacquiao Must Borrow to Help Typhoon Victims

Pacquiao accounts have been frozen by the Bureau of Internal Revenue


Boxing superstar Manny Pacquiao, said on Tuesday, that he has to borrow money to help typhoon victims.

Pacquiao, who beat Brandon Rios over the weekend, has had his bank accounts frozen by Philippine revenue authorities. According to the Bureau of Internal Revenue (BIR), Pacquiao hasn’t provided proof that he paid his taxes from 2008-2009. The organization claims that Pacquiao has $50 million worth of unpaid taxes. Pacquiao claims that he paid his taxes and that he had to borrow $22,700 to keep his promise to help typhoon victims. He also says that he plans on borrowing more money to keep that promise, reports Yahoo.

“The money that was garnished by the Bureau of Internal Revenue is not stolen,” Pacquiao told Yahoo. ”This came from all of the punches, beatings, blood and sweat that I endured in the ring.”

Bob Arum, Pacquiao’s promoter, says that the boxer has made a formal request to the IRS for his tax documents and that they will be provided to the BIR shortly.

Article printed from InvestorPlace Media, http://investorplace.com/2013/11/boxing-superstar-pacquiao-must-borrow-help-typhoon-victims/.

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