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Ralph Recto saves the day for Manny Pacquiao – Boxing News

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Ralph Recto saves the day for Manny Pacquiao – Boxing News
Senator Ralph Rector came up to defend Manny Pacquiao in relation to his recent tax related case. Manny Pacquiao was filed as ‘tax evader’ by Philippinnes’ tax officials after he failed to submit documents to the bureau during an investigation.
Ralph Recto, in his recent media encounter, spoke about Manny and his earnings and why they should not be taxed in the Philippines. According to Recto, Pacquiao pays tax to the Internal Revenue Service in the USA on the earning of his every fight that is held in the USA. Therefore, he added, Pacquiao should not be taxed in his hometown for his earnings that already come through a tax deduction process.
The chairman of the Senate committee said, “OFWs (overseas Filipino workers) earnings which are derived from working abroad are not subject to tax. I think the same principle should also apply to Pacquiao, who may not be a true-blue OFW but still our very own 'Overseas Fighting Worker'.”
He further added, “His income was not generated from here and he has already paid his taxes in the US. That would be double taxation. It seems personalities who clobbered poverty and became successful are now natural suspects for tax evasion and ill-gotten wealth.”
The senator further said that he is shocked on how Pacquiao is being treated in his hometown considering the boxer’s stature and his achievements. According to him, such attitude will only underestimate the fighter, which will have a direct affect on his upcoming fight.
Manny Pacquiao is scheduled to fight Timothy Bradley on June 9 at the MGM Grand in Las Vegas. Pacquiao also finds himself amidst another controversy for hiding a former politician in his house when he was being investigated. Pacquiao is a Filipino icon and such controversies can have a major impact on his image in his country and worldwide. The WBO welterweight champion will soon be heading towards his training session for his upcoming fight. It should be noted here that this fight would be one of the most important fights in Pacquiao’s career. If Pacquiao wins it, he will be able to get a shot against Mayweather.
 

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