Pacquiao and the tax on Filipino incomes earned abroad

Filipinos worldwide were dismayed by the outcome of the match between Manny Pacquiao and Floyd Mayweather, Jr. But the Filipino ring icon earned the respect of fans for his valiant stand despite suffering a shoulder injury in training. Pacquiao will of course still take home unimaginable riches from what was touted as the highest-grossing bout in boxing history. Unfortunately, from the tax point of view, such earnings mean he has an appointment with the BIR.