People’s boxing champ Manny “Pacman” Pacquiao has availed of the voluntary disclosure program of the Bureau of Customs to settle the issue about his luxury sport utility vehicle, ABS-CBN News reported Tuesday.
Reports said Pacquiao’s lawyer Jeng Gakal sent a letter to Customs Commissioner Napoleon Morales expressing their readiness to pay additional taxes if necessary for the boxer’s SUV.
Gakal said Pacquiao only followed government processes and his voluntary move was not an admission that the boxer has committed a mistake.
The BoC has investigated allegations that Pacquiao’s Porsche Cayenne-S is undervalued.
Pacquiao bought the SUV in the United States last year before his fight with Erik Morales.
BoC records show that Pacquiao bought the Porsche Cayenne-S at $25,452 and the taxes he paid in the agency amounted to P1,037,000.
It was discovered on the Porsche Web site, however, that the Cayenne-S costs $57,900.
Pacquiao is now ironing out the issue to prevent it from affecting his fight next month in the US. With a report from Alvin Elchico
