After a week of testy exchanges with the Bureau of Internal Revenue, Manny Pacquiao may have thrown in the towel against the taxman.
“Pacquiao is seeking an amicable settlement of his Php2.2- billion tax debts. Informed sources said Pacquiao’s lawyers went to the BIR on Wednesday morning and discussed with tax enforcement service officials to work out an out-of-court resolution of the case,” reports Jun Ramirez in Manila Bulletin.
The information comes as the Court of Tax Appeals stopped both Pacquiao and the bureau from making public comments regarding the case.
The court likewise suspended the proceedings on the boxer’s petition to lift the BIR’s freeze order on his bank deposits.
The court’s First Division, which is hearing the case, ordered the parties to report the outcome of the negotiations by Jan. 16.
