Customs Commissioner Napoleon Morales ordered yesterday an investigation into the alleged underpayment for a Porsche Cayenne Turbo sports utility vehicle (SUV) imported by boxing hero Manny Pacquiao from the United States after his recent fight in Las Vegas.
Morales said he ordered the immediate review of the boxing champ’s previous importations to determine if there was any discrepancy between the book value of the vehicle and the amount paid by Pacquiao.
“I don’t think there will be any problems if we ask Manny to pay additional taxes should we find deficiencies in his payment,” Morales said, adding that Pacquiao could not be faulted if he was remiss in duties and taxes as all import entries are processed through a broker, under standard Customs procedures.
“I do not think he will deliberately try to cheat the government as he is very well off,” he said. “But still, I urge him to come forward if he is aware of the error and offer to settle the difference.”
Morales also did not discount the possibility of a discount from the retail value that Manny may have gotten from abroad, which was used as the basis for the computation of his taxes.
“We will still have to check, because sometimes, if the importer gets a discount in the transaction value, we cannot impose the test value we have on record, we have to abide by discounted price,” Morales said. “We will have to see if the difference between the transaction value and our book value is too big, only then will we be able to determine if there is fraud committed.”
Pacquiao imported the Porsche Cayenne Turbo after his celebrated fight with Mexican boxer Eric Morales in the US last year. The vehicle, which costs $ 93,700 (R4.872 million at the time of purchase) reportedly entered the country in July, and was brokered by a Benjamin Valic.
Pacquiao bought the Porsche last January to replace his seven-seater Lincoln Navigator which he bought in 2005.
In the Philippines, Pacquiao owns a Ford Expedition, Mitsubishi Pajero V6, Honda CRV, Toyota pickup and a Lincoln Continental Mark III. (Angie Chui)
