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We don’t know how other taxpayers will take this.
“As boxer-lawmaker Manny Pacquiao still has some issues to iron out with the Bureau of Internal Revenue (BIR), Senator Koko Pimentel said he is filing a bill to grant the tax examption privilege to the former,” reports Philippine News Agency’s Jelly F. Musico on InterAksyon.com.
Pimentel stated: “Manny, being a Filipino, promotes the Philippines. The marketing value for the country is priceless.”
Thus, Pimentel pointed out that a special tax exemptionfor Pacquiao is “justifiable” and “worth it.”
The report noted: “On May 2 Pacquiao will put his World Boxing Organization title on the line against Floyd Mayweather Jr., the undefeated WBA and WBC champ. Experts say the mega-fight is worth anywhere from US$250 million to US$400 million.”
Pimentel added, “During his training, let us inspire Manny by way of passing a special tax exemption act for this particular fight. Anyway, we are not blind that a substantial part of his boxing proceeds goes to the people through Manny’s helping hand. Manny is now part of our history and of world sports history. Let’s give him this tax incentive in recognition to his invaluable efforts to promote boxing and the country around the world.”
Photo: Senate
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