PACQUIAO TOP TAXPAYER, PAYS MORE THAN FILIPINOS IN FORBES 'RICHEST' LIST
MANILA, NOVEMBER 22, 2010 (BULLETIN) By BEN R. ROSARIO – A senior administration congressman Sunday said that Saranggani Rep. Manny Pacquiao deserves to be honored as the country's top individual taxpayer, having paid higher taxes than Filipinos cited by Forbes Magazine as among the richest in the world.
Rep. Antonio Alvarez (Lakas-Kampi, Palawan) said not only is Pacquiao the greatest Filipino boxer who has won eight world division titles but is also the Philippines greatest taxpayer.
BizNewsAsia magazine, citing what it called official sources, had enumerated the names of the country's top 500 taxpayers with their corresponding payments.
Next to Paqcuiao in the BizNewsAsia list is Willie Revillame with P58.6 million; and Piolo Pascual who is No. 3 with P55.8 million payments.
Two other showbiz personalities made it to the Top 10 – Kris Aquino, No. 8 with P25.44 million; and Michael V (Beethoven del Valle Bunagan), No. 10 with P22.26 million.
Also landing in the BizNewsAsia's Top 20 list are known chief executive owners of conglomerates: Philex President Walter Brown with P26.83 milliontax (No. 9); Rio Tuba Nickel owner Manuel Zamora Jr. with P19.96 million tax (No. 12); San Miguel Corp's Eduardo Cojuangco Jr. with P18.98 million tax (No.13); PLDT Chair and Meralco CEO Manuel V. Pangilinan with P18.55 million (No. 14); the former Meralco President Manolo Lopez, P17.49 million (No. 16); Union Bank Chair and CEO Justo Aboitiz Ortiz, P15.2 million (No. 19), and SMC President and Petron CEO Ramon S. Ang, P14.85 million (No. 20).
Prominent tycoon Henry Sy Sr. was reportedly No. 73 in the list with tax payments of P7.27 million, while Lucio Tan failed to land in the top 100.
After nearly two months of absence, Pacquiao will return to the House of Representatives to attend Monday's session and also to be honored by the chamber with his second Congressional Medal of Distinction for his most recent world boxing conquest.
You Against Corruption and Poverty (YACAP) partylist Rep. Carol Jayne Lopez, one of the organizers of the red carpet welcome for Pacquiao at the Lower House, said the Sarangani solon is "extremely honored for the second Congressional Medal of Distinction, which will be given by his own peers."
Lopez, who also hails from Sarangani, said Pacquiao is doing what it takes to make himself a "champion" of his province when it comes to public service.
"Boxing may be his first love but public service is now his passion.
"I've seen him in action, I've worked with him in Sarangani, and we've discussed bills and issues. He is a legislator, not just a boxer, and to be honored by his co-equals in Congress, together with the people we represent is something very special to him. He said he is eternally grateful for his kind of honor and welcome from his peers," said Lopez.
According to Lopez, the neophyte Sarangani lawmaker is "emotionally touched" by the gesture of his colleagues in the Lower House who contributed P1,000 each to honor the new WBC super welterweight champion who defeated Mexican boxing legend Antonio Margarito for the boxing crown last week in Dallas, Texas.
Alvarez said the Bureau of Internal Revenue reported last April that Pacquiao paid P125 million in taxes in 2008, making him the highest individual Filipino taxpayer in a list of top 500 taxpayers.
"If the government is running out of awards to give Manny, then it should think of honoring him for being the reigning champion in the individual income tax payment category," said Alvarez, a member of the Commission on Appointments.
The Palawan lawmaker added: "He's not only the world's pound-for-pound boxing king, but he's also the country's peso-for-peso tax payments title holder."
Days after the Sarangani solon demolished Margarito for his 8th boxing title, a Palace official was quoted as saying that the government has ran out of awards to bestow on Pacquiao, as most of the honorary ranks that the President of the Philippines can present to an individual had been conferred on him.
But there's still one, Alvarez insisted, "and that is in the category that combines honesty, integrity, and love for country."
"He can probably reap two titles on the ring a year in spectacular fashion, but being taxpaying champion is what he does quietly throughout the year," Alvarez said.
Alvarez cited another benefit of honoring Pacquiao as top taxpayer "and that it would spur others more moneyed than him to knock him out of the BIR listing."
Pacman honored by House today By Jess Diaz (The Philippine Star) Updated November 22, 2010 12:00 AM Comments (1)
MANILA, Philippines - The House of Representatives will confer the Congressional Medal of Distinction on boxing champion and Sarangani Rep. Manny Pacquiao when he returns to his law-making job today.
Majority Leader Neptali Gonzales II said yesterday the conferment ceremonies "will be our first order of business" in today's session.
"This congressional award will be conferred by the Speaker. Then we will allow some time for members to congratulate Manny. After that, we will resume session. A modest victory party will follow in the evening," he said.
Speaker Feliciano Belmonte Jr. has ordered An Waray Rep. Florencio Noel, accounts committee chairman, and You Against Corruption and Poverty Rep. Carol Jane Lopez, a Sarangani resident, to prepare for a welcome and victory party for Pacquiao.
"We prepared a hero's welcome for our people's champion, a welcome that he deserves," Noel said.
"It's the first time that we have a colleague who is an eight-time world boxing champion. This is going to be a simple yet fun-filled and fitting welcome, and everybody's going to be involved," he said.
Noel said the celebrations would not entail any cost on the part of the House.
He said Belmonte has asked every member of the House to contribute funds for the victory party.
"Many members, aside from contributing money, promised to bring lechon and other food," he said.
He added that House personnel would be treated to snacks of sandwiches and drinks.
Lopez said Pacquiao has been "emotionally touched" by the decision of his colleagues to contribute to the victory celebrations.
She said before the session starts at 4 p.m., the boxing champion and Belmonte would most likely meet with media practitioners covering the House.
She said the dinner-party would be exclusive for House members and their wives "as requested by congressmen themselves."
On the eve of the Pacquiao's return to his law-making job, Palawan Rep. Antonio Alvarez said the boxing champion should also be honored as the country's No. 1 taxpayer.
"If the government is running out of awards to give to Manny, then it should think of honoring him for being the reigning champion in the individual income tax payment category," he said.
A Bureau of Internal Revenue report last April revealed that Pacquiao paid P125 million in taxes for 2008, besting Forbes-listed billionaires whose assets dwarf his prize winnings.
"He's not only the world's pound-for-pound boxing king, but he's also the country's peso-for-peso tax payments title holder," Alvarez, a member of the Commission on Appointments, said.
He said honoring Pacquiao as the country's top individual taxpayer "would spur others more moneyed than him to knock him out of the BIR listing."
BIR's list of top taxpayers included some entertainers and prominent businessmen.
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