Palace rejects proposed life-time tax exemption for Pacquiao

Malacañang on Friday rejected the proposal to exempt boxing superstar Manny Pacquiao from paying income taxes for the rest of his life.

“Hindi makatwiran ang panukalang iyan [That bill is not reasonable],” Presidential Communications Secretary Herminio Coloma Jr. said, referring to a bill proposed in the House of Representatives that seeks to grant lifetime tax exemption to Pacquiao.