By KIT BAGAIPO
The Bohol ChronicleThe Bureau of Internal Revenue (BIR) denies they will file a tax evasion case against Boholano boxing idol Rey “Boom Boom†Bautista.
Revenue District 84 head Atty. Rogelio Balaga renounced reports that Bautista is now a subject of a complaint for non-payment of taxes due on his earnings from his professional boxing matches here in the country and the United States.
A newspaper article (not the Chronicle), claimed that the BIR is filing the tax evasion case at the Court of Tax Appeals.
Before a tax evasion case can be filed, Balaga explained, there must be an audit investigation report on the subject of such complaint.
Presently, the BIR is in the process of verifying records of payments made by Boom Boom Bautista to the BIR together with the boxer’s manager.
But even if Bautista have not paid his income tax as a professional boxer, he still could not be charged for tax evasion as his earnings is fully documented, Balaga said.
The local BIR head pointed out further that he sees no difficulty in collecting tax due from Boom Boom.
Bautista’s tax will be computed from each of his fights but will be filed to the BIR quarterly.
For earnings of P1.5 million and above, professional boxers will be subject to value added tax.
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=3462.0
