PACQUIAO GRATEFUL TO SUPREME COURT WHOSE ACTION ALLOWS HIM TO CONCENTRATE ON TRAINING FOR ALGIERI FIGHT
By Ronnie Nathanielsz
PhilBoxing.com
Thu, 21 Aug 2014
?Fighter of the Decade? Manny Pacquiao and his wife Jinkee have thanked God and expressed their gratitude to the Supreme Court for what they termed a ?welcome development in what has been a bitter dispute with Philippine tax authorities.?
The Pacquiaos were likewise grateful that the Supreme Court was able to urgently act on their Petition for a Temporary Restraining Order orb TRO.
The congressman from Sarangani province who is serving his second term stated ?The issuance by the High Court of a TRO allows both sides to have a fair opportunity to present evidence and prove their case before the CTA.?
The eight division world champion and the fighting pride of the Philippines said ?I think I have said all that needs to be said in connection with the taxes I have paid in the United States and in the Philippines. Let us now let the legal process take its course. For now, I am just glad I will be able to concentrate on training for my upcoming bout in Macau on November 22.?
Pacquiao will defend his WBO welterweight title at a catch-weight of 144 pounds against WBO junior welterweight champion Chris Algieri who eked out a twelve round split decision against former Pacquiao sparring partner Ruslan Provodnikov last June 14 despite being dropped twice in the opening round and having his right eye almost shut from the 8th round.
The Supreme Court issued a Temporary Restraining Order (TRO) to stop the enforcement of the Court of Tax Appeals (CTA) ruling which ordered Pacquiao and his wife Jinkeeto post a cash bond in the amount of P3,298,514,894.35 (US$74.9 Million) or a surety bond in the amount of P4,947,772,341.53 (US$112.4 Million), as a condition for suspending the collection of alleged deficiency 2008 and 2009 income tax and value added tax by the Bureau of Internal Revenue while their appeal is still being heard.
The CTA (First Division) was further ordered to proceed with CTA Case No. 8683 with ?deliberate dispatch?.
The Supreme Court likewise enjoined the BIR from issuing, executing, enforcing, implementing, or otherwise giving effect to any Warrant of Distraint and/or Levy, Warrants of Garnishment, and Notice of Tax Lien, and from attempting to collect any tax on the basis of the deficiency income tax and VAT assessments against petitioners for the years 2008 and 2009.
The TRO is to be extended "indefinitely and until further orders".
Click here to view a list of other articles written by Ronnie Nathanielsz.
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