Pacquiao turns over P32M as initial payment to BIR

 
 
Fighting Congressman Manny Pacquiao has reached out to Bureau of Internal Revenue (BIR) Commissioner Kim Henares in a bid to settle his tax obligations.
 The Filipino boxing superstar reportedly forked over P32 million to the BIR, part of the P2.2 billion the tax agency says he owes from his prize winnings and other sources of income.

READ: Why Manny Pacquiao’s tax liability reached P2.2B? 

She said she discussed with Pacquiao his options for his tax payments, including the option of paying 10 percent of the total amount due provided he can show proof that he is unable to pay the full amount immediately.

“Based ito sa rules ng BIR, 40% ang babayaran, pero kailangan ng documents to prove na settled na n’ya ang iba pang taxes, including sa US. Second [option] 10 percent [ang babayaran] pero he has to show documents that he is financially incapable."
Henares also revealed that she advised Pacquiao to start taking care of his finances for his children's sake.

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