Riddick Bowe. Evander Holyfield. Mike Tyson.
What do all of these boxers have in common?
They all won millions upon millions of dollars in their lifetimes, and they all ended up broke. And if Manny Pacquiao isn’t careful, he could be the next boxer to join the club.
According to a report from Yahoo Sports, “Pac man” has had his bank accounts frozen by the Philippines tax bureau, after he allegedly failed to pay his taxes for the fights he had in the United States from 2008 through 2009. This includes his most recent winnings, an $18 million dollar payday for his win over Brandon Rios, last Saturday night.
Pacquiao had this to say:
“This is harassment. I am not a criminal or a thief. I am not hiding anything. I will face my problems as they come. I have already paid my taxes in America. Had I not paid the correct taxes they (US authorities) would have come after me and I would not have been able to travel there.”
People with dual-citizenship (like Pacquiao) are exempt from paying taxes in both countries, but apparently this won’t help “Pac Man”, as his local tax bureau has rejected the documents which would prove he’s already paid his US taxes.
Until Pacquao can sort this out, he will be living like us common folk.
Tags: boxing, Boxing News, Brandon Rios, manny pacquiao, Pac Man