Pacquiao’s Bank Accounts Seized in Philippine Tax Row
This article is for subscribers only.
Manny Pacquiao, the world-champion boxer and a national icon in the Philippines, had his accounts frozen by two banks as authorities seek to collect 2.2 billion pesos ($50.3 million) in unpaid taxes.
The Bureau of Internal Revenue issued a warrant in July to 36 banks to seize Pacquiao’s assets after he failed to prove he paid taxes in the U.S. in 2008 and 2009, Commissioner Kim Henares said yesterday. Twenty-two banks responded to the order, with two saying he had 1.1 million pesos in accounts with them, Henares said.