Pacquiao squares up to tax man
March 28, 2012 -- Updated 0944 GMT (1744 HKT)
Pacquiao examines documents given to him by an aide, during a press conference in Manila on March 26, 2012.
- World boxing champion Manny Pacquiao says he intends to fight charges over tax
- The Philippines tax department says the boxer failed to submit proper documents
- The figher-turned-politician declared assets worth $26.3 million in 2010
- He says the Bureau of Internal Revenue has singled him out to tarnish his name
(CNN) -- World boxing champion Manny Pacquiao says he intends to fight criminal charges that he failed to submit the proper tax documents for his earnings from boxing matches and his many commercial endorsements.
The eight-time world champion, who is also a politician, could face up to two years in jail if found guilty, but officials from the Philippines Bureau of Internal Revenue (BIR) said the matter could be easily resolved if Pacquiao submits the proper documents.
Pacquiao's lawyers said the boxer -- who was in the United States training for a fight with Mexican Juan Manuel Marquez when the BIR issued a subpoena last month -- was not given enough time to comply with the request.
Pacquiao declared assets at the end of 2010 of 1.13 billion pesos ($26.3 million) and no liabilities, making him the country's wealthiest lawmaker. He told a press conference on Monday that he had been marked out for harassment by the BIR.
Pacquiao & his team on retiring
Pacquiao: God told me to retire -- but not yet
"Why the BIR singled me out smacks of bad faith designed to tarnish my reputation," he said.
They should have done this in private
His business manager Eric Pineda told CNN that Pacquiao had never avoided paying taxes.
"It's just a matter of people jumping the gun," he said. "They should have done this in private rather than going to the media in an attempt to get Manny's attention."
Philippines Finance Secretary Cesar Purisima told local media that no one was above investigation by the BIR, adding that Pacquiao was taking the issue personally.
"I don't think the BIR will dare harass an eight-time world champion," Purisima said. "We love and respect [Pacquiao] and we wish him the best -- he is a national icon. But at the same time we have a duty to make sure that we review everyone's income tax return."
The flamboyant boxer-turned-politician -- arguably the world's best pound-for-pound fighter -- has recently been he subject of several colorful stories concerning his career.
Last week, Pacquiao said in a radio interview he had a dream in which God had told him to hang up his gloves, fueling speculation he may back out of a long-anticipated fight with American Floyd Mayweather.
Boxing fans have long sought a fight between Mayweather and Pacquiao. The pair were in negotiations for a fight to be held later this year but talks fell through.
Pacquiao, 33, has a 54-3 win-loss record with two draws, while 34-year-old Mayweather has won all 42 of his professional fights, 26 by knockout.
Part of complete coverage on
Photographer Danny Lyon spent three days with Muhammad Ali in 1972 and shares his best photos and memories of the champ.
March 4, 2014 -- Updated 2048 GMT (0448 HKT)
From LeBron James in a mask to spectacular cycling crashes -- check out some of the best images from the sporting world.
February 25, 2014 -- Updated 1254 GMT (2054 HKT)
With a growing audience boosted by the drama of ice hockey on show in Sochi at the Winter Olympics, can the sport capitalize on its popularity?
January 20, 2014 -- Updated 1125 GMT (1925 HKT)
Her paintings may sell for thousands of dollars, but she is best known for a modeling shot 50 years ago that helped launch a business empire.
January 9, 2014 -- Updated 1701 GMT (0101 HKT)
When the eye of the storm closes in most people head home -- but for these surfers it's a different story.
January 6, 2014 -- Updated 1445 GMT (2245 HKT)
Gareth Evans is a school teacher in South Africa. In 1983, he attended a "rebel tour" cricket match against the West Indies.
December 17, 2013 -- Updated 1507 GMT (2307 HKT)
In the wake of protests in his native Ukraine, heavyweight champion Vitali Klitschko has turned his back on boxing to focus on his political ambitions.
August 9, 2013 -- Updated 0920 GMT (1720 HKT)
The Olympics must use its global reach and immense popularity to help save a generation, says sporting icon Sergei Bubka.
August 7, 2013 -- Updated 1632 GMT (0032 HKT)
CNN's Fred Pleitgen exposes a history of German government-funded doping throughout the Cold War.
April 9, 2013 -- Updated 1628 GMT (0028 HKT)
A six-day run that covers more than 220 km through the scorching heat of the Sahara desert has been billed as the "World's toughest race."
April 10, 2013 -- Updated 1149 GMT (1949 HKT)
He plays the only sport approved by the Taliban, a game he learned as a war refugee in Pakistan.
April 4, 2013 -- Updated 1746 GMT (0146 HKT)
How do you like your sport? Blood, sweat, tears and a nailbiting finish, no doubt. But what about death?
April 5, 2013 -- Updated 0934 GMT (1734 HKT)
Disgraced doper Lance Armstrong's quest to take part in a swimming event in Texas appears to have been sunk before he's even hit the water.
Today's five most popular stories