Saturday, March 17, 2012

Tax Man waits for Pac-Man

Forbes Magazine ranked Pacquiao as the world's 24th richest athlete last year. Tax officials have filed a complaint against World Champion Boxing Star Manny Pacquiao for failure to submit tax documents to investigators for his tax returns. If there is enough evidence Prosecutors will decide to bring the case to court. If convicted Pacquiao could face up to two years in prison. Pacquiao failed to submit documents after three notices and a subpoena so Rozil Rozares regional director for the Bureau of Internal Revenue says a complaint has been filed. With the many businesses and endorsements that Pacquiao has there were discrepancies in his 2010 tax return.

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