MANILA – Before making a return bout in the United States, newly crowned WBA welterweight champ Manny Pacquiao may have to settle first his reported tax debts with the Internal Revenue Service (IRS).
ESPN Plus reported that the Filipino boxing legend owed the US government around $20 million in taxes from his previous bouts held in Las Vegas under Top Rank Promotions.
These debts forced Pacquiao to fight outside of the US in his last two bouts – in Australia against Jeff Horn on July 2 last year and in Kuala Lumpur, Malaysia against Lucas Matthysse on Sunday – the report added.
After his seventh-round technical knockout win against Matthysse at the Axiata Arena, Pacquiao said he hopes to return to the US for his title defense.
“I want to return to the United States for my next fight,” Pacquiao told The New York Times. “I have not fought there in two years so I hope that my next fight will be there.”
Top Rank CEO Bob Arum, in a separate interview, said Pacquiao was already settling those debts and he was hopeful these will be all settled the soonest so they could schedule his next fight.
“They are working through that with the IRS and they’re optimistic they’ll have a resolution. I believe that it is nowhere near the $20-million figure,” the boxing promoter said.
“The hope is a plan can be worked out so he can fight and begin to pay off what his obligations are,” he added. “He looked better in that fight (against Matthysse) than he has in years.”
The 39-year-old Pacquiao hasn’t fought on American soil since he outpointed Mexican fighter Jessie Vargas 20 months ago to capture the WBO welterweight title in Las Vegas./PN
How about taxes owed in the Philippines, has Mr. Pacquiao paid the By of Internal Revenue.