Philippines tax investigators seek information from Manny Paquiao
March 9, 2012
The Bureau of Internal Revenue in the Philippines recently filed a criminal complaint against internationally-reknowned boxer Manny Pacquaio. The tax investigators are seeking to determine whether Pacquiao has filed his tax return properly and paid the government the appropirate amount of money to reflect his income, according to the AFP.
The Associated Press reports the multi-millionaire has failed to produce documents concerning fight contracts and product endorsements after being sent three notices and a subpoena. Rozil Lozares, a regional director at the bureau, told the news source that Pacquiao's 2012 tax return contained discrepancies concerning his income.
"He is not being singled out. We have also filed complaints against 39 other people," tax investigator Eric Diesto told the AFP.
Pacquiao, who was recently ranked the 24th richest person in the world by Forbes, claims he wants to cooperate fully with the investigation. If Pacquiao is found guilty of tax fraud, he could be looking at up to two years in jail, according to the news publication.
The boxer's supporters can find out the latest updates of the story by calling the Philippines with international phone cards and asking their friends for any news surrounding the investigation and whether it will affect his next match. Pacquiao is set to go up against undefeated American Timothy Bradley in Las Vegas this June.