26
Sep
2020

Manny Pacquiao set to be granted US asset reprieve in tax row

Phil Jay 29/12/2013
Manny Pacquiao

Chris Farina

A lien held against Manny Pacquiao’s US property and assets is now in the process of being lifted, according to the former world champion’s American advisor Michael Koncz.

A lien held against Manny Pacquiao’s US property and assets are now in the process of being lifted, according to the former world champion’s American advisor.

The United States Internal Revenue Service (IRS) had put a block on the fighter’s financial stock in the US due to the alleged non-payment of $18million in taxes between 2006 and 2010, although Koncz has today released a statement which points to the imminent reversal.

“There have been numerous public reports about tax issues involving boxing superstar Manny Pacquiao,” Koncz outlined in the statement. “Many of those reports have contained inaccurate and misleading information and were triggered by the filing of a federal tax lien. The lien is in the process of being released by the Internal Revenue Service.

“Manny’s US tax counsel has been working with the IRS and Manny’s counsel David Marroso stated that the IRS has abated the tax assessments against Manny which triggered the filing of the lien and has released or is in the process of releasing all federal tax liens and levies.

“Mr. Toscher stated that Manny is serious about his tax obligations and will continue to work with the IRS to resolve any outstanding tax issues.

MANNY PACQUIAO FINANCES

“The attorneys emphasized that matters regarding Manny’s finances and tax matters are confidential, and both the IRS and his advisors have respected his privacy and continue to focus their attention on the facts, not misleading rumors perpetuated by others.”

The initial allegations were made in Pacquiao’s homeland of the Philippines after the Bureau of Internal Revenue (BIR) applied for the freeze currently in place, although the eight-weight world title-holder has always denied the claims.

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