Pacquiao 135th taxpayer in 2010: BIR
MANILA, Philippines -- Sarangani congressman and 8-division boxing champ Manny Pacquiao has lost his crown as the country's top taxpayer for the second year in a row.
Pacquiao paid P9,190,691 in taxes in 2010, making him only the 135th top individual taxpayer in the country.
However, according to Bureau of Internal Revenue (BIR) data, Pacquiao's taxable income for 2010 was P504.5 million -- more than twice the taxable income of the top taxpayer, businessman Vicente Lao, who had a taxable income of P235 million.
The boxing champ previously topped BIR's Top 500 Individual Taxpayers list when he paid over P125 million in taxes for 2008.
His taxes then shrunk to P7.41 million in 2009.
Speaking to radio dzMM, BIR Commissioner Kim Henares said she made a mistake when she told ABS-CBNNews.com that Pacquiao paid less than P7 million in taxes for 2010.
Henares said she based her earlier statement on the taxes paid by Pacquiao on April 15, 2011.
"Pero actually kapag tinotal mo yung quarterly niya, more than P9 million ang binayaran niya," she told radio dzMM.
The BIR has filed a contempt case against Pacquiao for failure to submit copies of his endorsement contracts and other sources of income.
Henares said the BIR started investigating Pacquiao's income after the drop in his income taxes for 2009.
She said Pacquiao has yet to submit his documents. "Once he submits, we will withdraw the case. Based on the documents, we will evaluate if he paid the correct taxes," she said.
Only one other athlete made it to the list of the top 500 individual taxpayers in 2010: basketball player Chris Tiu at No. 370.