Eight-time world champion Manny Pacquiao is facing stern penalties if he fails to submit his tax documents to the Bureau of Internal Revenue (BIR) in the near future according to Commissioner Kim Henares.
Henares is hoping that any forcible action can be avoided and is awaiting the relevant information to see one way or another why Pacquiao dropped over 100 places in the Philippine taxpaying list in a two-year period.
“Why the sudden drop?” Henares asked.
“The sooner he submits, the sooner this controversy will die down. We haven’t mentioned of any liability yet, that’s why we are investigating him.
“We have to see the gravity of the violation. As of now, we are not even talking or thinking of tax evasion. We are only asking him to submit the documents,” she added.
Pacquiao, 33, is currently in the preliminary stages of training for his bout against Timothy Bradley on June 9th, but will want the situation cleared up after the BIR opened the investigation into his movement from the number one taxpayer in the Philippines in 2008, to 113th in 2010.