ARUM INSISTS TOP RANK HAS RECEIPTS FOR PACQUIAO?S IRS TAX PAYMENTS
By Ronnie Nathanielsz
PhilBoxing.com
Wed, 27 Nov 2013
Promoter Bob Arum insists that Top Rank has deposit confirmations for each payment made on behalf of ?Fighter of the Decade? Manny Pacquiao to the US Internal Revenue Service.
In a statement forwarded to the Manila Standard, Arum said "For each of Manny?s fights that occurred in the United States, including those in 2008 and 2009, Top Rank withheld 30% of Manny's purses and paid those monies directly to the Internal Revenue Service (IRS) via Electronic Funds Transfer (EFT). Top Rank has deposit confirmations for each payment. Top Rank has done the same for all U.S. endorsements it has facilitated on Manny's behalf.?
The world?s top promoter stated that Top Rank ?submitted copies of the EFT deposit acknowledgements to the Bureau of Internal Revenue (BIR) as proof of payment. The BIR received the documents but directed Manny to obtain ?certified? documents directly from the IRS itself.?
Arum added, "As I am sure people appreciate, obtaining certified copies of documents from the IRS takes time. Manny made the formal request to the IRS and we have every expectation that the necessary documents will be furnished to the BIR very soon."
Pacquiao has lamented the fact that the BIR froze all the funds he had in his bank accounts which prevented him from visiting the areas devastated by super typhoon Yolanda to provide help and solace to his suffering countrymen to whom he had dedicated his spectacular victory over Brandon ?Bam Bam? Rios.
Photo: Top Rank's Bob Arum (seated, left) and Sands China CEO Edward Tracy (seated, right) at Pacquiao's Wildcard Gym in General Santos City.
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