Despite raking in millions of dollars a year and being one of the most profitable boxers in boxing history the financial woes of Manny Pacquiao continue to make headlines. Manny Pacquiao's bank accounts have been frozen due to a 2008-2009 tax issue. The Philippines Bureau of Internal Revenue is claiming that Pacquiao owes them 50$ million US dollars in taxes from the 2008-2009 year however Pacquiao is claiming that he paid those taxes in the US. Since both the US and the Philippines can't double tax Pacquiao he believes he's not at fault for any of it.
"I'm not a criminal or thief." Pacquiao stated. Because of the dilemma, Pacquiao has been forced to borrow money that he promised to pay to the victims of the typhoon incident early this month. However, the Bureau claims that Pacquiao only has around 25,000 US dollars in his bank accounts and that if he did pay the taxes in the United States then he has yet to provide valid proof of that to them.
Pacquiao has admitted to having financial and gambling problems in the past. It was well known that he had taken advances from promoter Bob Arum prior to fights on more than one occasion due to financial issues. The timing of his frozen bank accounts is convenient considering he just reportedly got 18$ million dollars for his victory over Brandon Rios a few days ago. Apparently that money wasn't in his accounts at the time they were frozen.