By Perfecto T. Raymundo Jr.
MANILA, (PNA) — The Supreme Court (SC) has stopped the Court of Tax Appeals (CTA) from proceeding with the trial of the Php 2-bilion tax evasion case against world boxing champ and Sarangani Rep. Emmanuel “Manny” Pacquiao and his wife Jinkee.
In a resolution dated Aug. 18, 2014, the SC Third Division issued a temporary restraining order (TRO) stopping the order of the CTA directing Pacquiao to post a Php 3-billion worth of cash bond or Php 4-billion surety bond. The cash bond was aimed to stop the Bureau of Internal Revenue (BIR) from collecting from Pacquiao his alleged tax deficiency amounting to Php 2 billion.
Likewise, the SC stopped the BIR from collecting Php 2-billion worth of taxes from Pacquiao.
The SC also ordered the CTA and the BIR to comment on the petition of Pacquiao within a period of 10 days from notice.
Pacquiao and his wife have earlier asked the SC to reverse the ruling of the CTA ordering them to post P3.298-billion cash bond or P4-billion surety bond to stop the BIR from collecting P2 billion worth of taxes.
In their petition for certiorari, the Pacquiao couple also asked the SC to issue a temporary restraining order (TRO) against the implementation of the CTA’s July 11, 2014 resolution denying their motion for partial reconsideration.
The CTA’s July 11, 2014 ruling said that the appeal of the Pacquiao couple lacks merit and gave them 30 days to post a cash bond worth P3,298,514,894.35 or post a GSIS bond or a bond from other reputable surety companies accredited by the SC, in the amount equivalent to one-and-one-half of the amount being collected or P4,947,772,341.53.
Pacquiao’s motion for partial reconsideration asked the CTA to reduce the bond and extend the deadline for posting the bond.
Originally, the Pacquiaos were given 10 days to post a bond.
In 2013, Pacquiao filed a petition before the CTA to lift the warrant of distraint and levy and garnishment as well as the collection of taxes by the BIR.
However, the CTA ordered Pacquiao and his wife to deposit a cash or surety bond.
Pacquiao did not post a bond, instead, he filed a partial motion for reconsideration telling the CTA that the condition is “impossible.”