1. #1
    PhillyFlyers
    SBR'S Biggest Star
    PhillyFlyers's Avatar Become A Pro!
    Join Date: 09-27-11
    Posts: 8,245

    Manny Pacquiao Will Now Box Off-Shore To Avoid Exorbitant US Taxes

    With the announcement that top ranked boxer Manny Pacquiao will seek to hold his upcoming boxing matches away from the bright lights of Las Vegas and off U.S. soil, the Filipino boxer becomes the latest professional athlete to highlight the current non-competitive U.S. income tax rate. As reported by Yahoo! Sports:

    [Pacquiao chief advisor] Michael Koncz told Yahoo! Sports that the 39.6 percent tax rate Pacquiao would face if he were to fight again in the U.S. makes a fall bout in Las Vegas "a no go."
    http://www.atr.org/high-tax-rate-for...ht-champ-a7474

  2. #2
    bobby heenan
    Update your status
    bobby heenan's Avatar Become A Pro!
    Join Date: 03-20-09
    Posts: 4,120
    Betpoints: 75

    blah who cares....vegas made him famous....his two best displays, which i was at(hatton/cotto) were in vegas.....i just dont think he wants to relive being killed

  3. #3
    PhillyFlyers
    SBR'S Biggest Star
    PhillyFlyers's Avatar Become A Pro!
    Join Date: 09-27-11
    Posts: 8,245

    Quote Originally Posted by bobby heenan View Post
    blah who cares....vegas made him famous....his two best displays, which i was at(hatton/cotto) were in vegas.....i just dont think he wants to relive being killed
    I don't know, man. Seems like a wise decision to me. I mean, if he's scheduled to make $20 million for a fight, he saves a minimum of $4 million in tax savings by having the fight outside of the US.

    The concerning part in this, is what if all future boxing superstars follow Manny's path and do the same thing?

  4. #4
    bobby heenan
    Update your status
    bobby heenan's Avatar Become A Pro!
    Join Date: 03-20-09
    Posts: 4,120
    Betpoints: 75

    Quote Originally Posted by PhillyFlyers View Post
    I don't know, man. Seems like a wise decision to me. I mean, if he's scheduled to make $20 million for a fight, he saves a minimum of $4 million in tax savings by having the fight outside of the US.

    The concerning part in this, is what if all future boxing superstars follow Manny's path and do the same thing?
    doubt it.....floyd aint ever leaving vegas...once broner establishes himself hell be a staple there.......wouldnt be concerned about it one bit as far as future fighters doing the same...manny made all his money in vegas.....

  5. #5
    bobby heenan
    Update your status
    bobby heenan's Avatar Become A Pro!
    Join Date: 03-20-09
    Posts: 4,120
    Betpoints: 75

    for all the talk about floyd....manny hasnt managed his money the best himself...not to mention floyds deals are way better(people think floyd is dumb and wreckless...but he carries himself the same in the ring and in business....in control and ahead of the game)

  6. #6
    PhillyFlyers
    SBR'S Biggest Star
    PhillyFlyers's Avatar Become A Pro!
    Join Date: 09-27-11
    Posts: 8,245

    Quote Originally Posted by bobby heenan View Post
    doubt it.....floyd aint ever leaving vegas...once broner establishes himself hell be a staple there.......wouldnt be concerned about it one bit as far as future fighters doing the same...manny made all his money in vegas.....
    Floyd's situation is unique though. Vegas is his home and he loves to gamble. It's not just about Floyd, it's about the future of the sport and it's future stars that this affects. Makes no sense to fight in the US and be forced to pay ridiculous taxes when you don't have to.

  7. #7
    bobby heenan
    Update your status
    bobby heenan's Avatar Become A Pro!
    Join Date: 03-20-09
    Posts: 4,120
    Betpoints: 75

    Quote Originally Posted by PhillyFlyers View Post
    Floyd's situation is unique though. Vegas is his home and he loves to gamble. It's not just about Floyd, it's about the future of the sport and it's future stars that this affects. Makes no sense to fight in the US and be forced to pay ridiculous taxes when you don't have to.
    so do you think guys like adrien broner and andre ward are going to take their business outside of the states??? nope....manny is unique too in that he can take his business outside of the states and still do well....most others cant....a guy like saul alvarez will do home fights but will also fight in the states because golden boy can sell him here and there is a fan base for him here too

    with floyd it isnt about vegas being a place to gamble or his adopted hometown...if it made enough sense for him to take his biz elsewhere he would

  8. #8
    Jetsfan
    Update your status
    Jetsfan's Avatar Become A Pro!
    Join Date: 07-07-08
    Posts: 276
    Betpoints: 10090

    Haven't seen anyone make the point that Floyd and others are US citizens. They will still owe Uncle Sam for the income even if they fight outside. Anyone here actually pay taxes?

  9. #9
    bobby heenan
    Update your status
    bobby heenan's Avatar Become A Pro!
    Join Date: 03-20-09
    Posts: 4,120
    Betpoints: 75

    i dont see this as any indication of anything other than a guy at the end of the line looking to save 4 mil

  10. #10
    TheMoneyShot
    TheMoneyShot's Avatar Become A Pro!
    Join Date: 02-14-07
    Posts: 28,681
    Betpoints: 23701

    Quote Originally Posted by Jetsfan View Post
    Haven't seen anyone make the point that Floyd and others are US citizens. They will still owe Uncle Sam for the income even if they fight outside. Anyone here actually pay taxes?
    He could have dual citizenship or eventually give up his US Citizen rights... and move elsewhere. I'm glad most people are doing this. These US laws are outrageous. More athletes will be leaving soon.

  11. #11
    tto827
    tto827's Avatar Become A Pro!
    Join Date: 10-01-12
    Posts: 9,078
    Betpoints: 76

    Quote Originally Posted by TheMoneyShot View Post
    He could have dual citizenship or eventually give up his US Citizen rights... and move elsewhere. I'm glad most people are doing this. These US laws are outrageous. More athletes will be leaving soon.
    And where exactly are these athletes going to go live? As bad as its getting here, the good majority of the modern world still has higher taxes then us, they just get more out of it.

  12. #12
    RubberKettle
    RubberKettle's Avatar Become A Pro!
    Join Date: 12-28-09
    Posts: 6,421
    Betpoints: 791

    Someone's gotta pay for Obama's 'investments'

  13. #13
    TheMoneyShot
    TheMoneyShot's Avatar Become A Pro!
    Join Date: 02-14-07
    Posts: 28,681
    Betpoints: 23701

    Quote Originally Posted by tto827 View Post
    And where exactly are these athletes going to go live? As bad as its getting here, the good majority of the modern world still has higher taxes then us, they just get more out of it.
    Well Canada is a start... Health care over there might be whacked? I don't know? But... it's an option. I'm thinking about leaving too... F this place.

  14. #14
    Jetsfan
    Update your status
    Jetsfan's Avatar Become A Pro!
    Join Date: 07-07-08
    Posts: 276
    Betpoints: 10090

    Quote Originally Posted by TheMoneyShot View Post
    He could have dual citizenship or eventually give up his US Citizen rights... and move elsewhere. I'm glad most people are doing this. These US laws are outrageous. More athletes will be leaving soon.
    Offensively stupid post. He's an American superstar. What do you think the breakdown of the PPV buys are?

  15. #15
    tto827
    tto827's Avatar Become A Pro!
    Join Date: 10-01-12
    Posts: 9,078
    Betpoints: 76

    Quote Originally Posted by TheMoneyShot View Post
    Well Canada is a start... Health care over there might be whacked? I don't know? But... it's an option. I'm thinking about leaving too... F this place.
    Income tax rates in Canada are quite similar to the US, but they get healthcare, so its cheaper. But if you need a transplant thats not life threatening, I hope you don't mind waiting 3-6 weeks. Cayman Islands is the place to go. Enough rich people have moved out there that they now have good schools available, and no direct income tax.

  16. #16
    tto827
    tto827's Avatar Become A Pro!
    Join Date: 10-01-12
    Posts: 9,078
    Betpoints: 76

    Quote Originally Posted by Jetsfan View Post
    Offensively stupid post. He's an American superstar. What do you think the breakdown of the PPV buys are?
    At first I thought the same thing, but do you really think anyone cares? All the money is made from PPV, not tickets, so for all he cares they could have the fight at the north pole in front of 3 people and he would still make the same amount.

  17. #17
    PhillyFlyers
    SBR'S Biggest Star
    PhillyFlyers's Avatar Become A Pro!
    Join Date: 09-27-11
    Posts: 8,245

    Quote Originally Posted by bobby heenan View Post
    so do you think guys like adrien broner and andre ward are going to take their business outside of the states??? nope....manny is unique too in that he can take his business outside of the states and still do well....most others cant....a guy like saul alvarez will do home fights but will also fight in the states because golden boy can sell him here and there is a fan base for him here too

    with floyd it isnt about vegas being a place to gamble or his adopted hometown...if it made enough sense for him to take his biz elsewhere he would
    Maybe not Adrien Broner but look at a guy like, say, Danny Garcia born in Philly, but Garcia's family is puerto rican and still hold citizenship there. If he wants to fight all his matches in Puerto Rico, he pays no federal income taxes.

    Tell me, at that point, why would he fight in the US again?

  18. #18
    Jetsfan
    Update your status
    Jetsfan's Avatar Become A Pro!
    Join Date: 07-07-08
    Posts: 276
    Betpoints: 10090

    Quote Originally Posted by tto827 View Post
    At first I thought the same thing, but do you really think anyone cares? All the money is made from PPV, not tickets, so for all he cares they could have the fight at the north pole in front of 3 people and he would still make the same amount.
    All mega fights take place in Vegas. Never going to change and for many reasons. Promotional companies, the hotels, Vegas keeps boxing as we know it in the US alive. It is where superstars are born in the sport. If a young boxer like Canelo fought the rest of his career in China, the only people that would care or watch are Mexicans. He'd lose well over 50% of potential PPV earnings for the balance of his career.

  19. #19
    Jonah
    Jonah's Avatar Become A Pro!
    Join Date: 10-21-09
    Posts: 4,042

    Our pie continues to shrink as the govt demands a bigger piece of it. When will we realize a smaller piece of a gigantic pie is preferable to a chunk out of a feeble one?

  20. #20
    PhillyFlyers
    SBR'S Biggest Star
    PhillyFlyers's Avatar Become A Pro!
    Join Date: 09-27-11
    Posts: 8,245

    Quote Originally Posted by Jonah View Post
    Our pie continues to shrink as the govt demands a bigger piece of it. When will we realize a smaller piece of a gigantic pie is preferable to a chunk out of a feeble one?
    Answer: Never.

    Reason: Liberals.

  21. #21
    Wilfred
    Wilfred's Avatar Become A Pro!
    Join Date: 08-19-12
    Posts: 1,908
    Betpoints: 528

    Who cares?

  22. #22
    bobby heenan
    Update your status
    bobby heenan's Avatar Become A Pro!
    Join Date: 03-20-09
    Posts: 4,120
    Betpoints: 75

    Quote Originally Posted by PhillyFlyers View Post
    Maybe not Adrien Broner but look at a guy like, say, Danny Garcia born in Philly, but Garcia's family is puerto rican and still hold citizenship there. If he wants to fight all his matches in Puerto Rico, he pays no federal income taxes.

    Tell me, at that point, why would he fight in the US again?
    you said it all...born in philly....hes more of a philly fighter than a puerto rican fighter...hes not a real island guy like tito, cotto, or juanma....the guy speaks english....not saying he couldnt do ok over there...but hes not a real island figther and they wouldnt go crazy or embrace him over there like the way they get behind the other guys

  23. #23
    Grits n' Gravy
    Bigdaddyqh diddles kids
    Grits n' Gravy's Avatar Become A Pro!
    Join Date: 06-10-10
    Posts: 13,024
    Betpoints: 41120

    The money in Macau and Singapore is longer than Vegas. Ditto for a 5th Marquez fight in Mexico City. Smart move by Manny to make a cash grab in his last few fights.

  24. #24
    bobby heenan
    Update your status
    bobby heenan's Avatar Become A Pro!
    Join Date: 03-20-09
    Posts: 4,120
    Betpoints: 75

    Quote Originally Posted by Grits n' Gravy View Post
    The money in Macau and Singapore is longer than Vegas. Ditto for a 5th Marquez fight in Mexico City. Smart move by Manny to make a cash grab in his last few fights.
    cant see marquez taking that fight...just cant...the biggest factor of course is the money....but i just cant see marquez taking the fight....arum will obviously push for it....it just makes sense for marquez to know in his heart he put everything to rest and anything less than what he did will be a disappointment.....because hell have to knock manny out again...he wont beat him on the cards...judges will always favor mannys aggression

  25. #25
    King Mayan
    STFU AND SQUAT PUTO
    King Mayan's Avatar SBR PRO
    Join Date: 09-22-10
    Posts: 21,325
    Betpoints: 3679

    When will all this tax crying stop???

    Nobody gives a shit...
    Last edited by King Mayan; 02-16-13 at 11:30 AM.

  26. #26
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 82,188
    Betpoints: 316

    If he doesn't like paying taxes he is not welcomed in the US. The purse is paid from US taxpayers money who pay for fight tickets and pay per view tv sales. Pacquaio you can't have your cake and eat it too. Quit leeching on US taxpayers.

  27. #27
    k13
    k13's Avatar Become A Pro!
    Join Date: 07-16-10
    Posts: 17,527
    Betpoints: 1710

    Quote Originally Posted by tto827 View Post
    And where exactly are these athletes going to go live? As bad as its getting here, the good majority of the modern world still has higher taxes then us, they just get more out of it.
    Monaco.

  28. #28
    MUHerd37
    Status Your Update.
    MUHerd37's Avatar Become A Pro!
    Join Date: 10-23-09
    Posts: 12,816
    Betpoints: 10678

    Yep the athletes that compete all over the world declare their residence as Monaco.

  29. #29
    OMGRandyJackson
    OMGRandyJackson's Avatar Become A Pro!
    Join Date: 02-07-10
    Posts: 1,680
    Betpoints: 4054

    Quote Originally Posted by tto827 View Post
    And where exactly are these athletes going to go live? As bad as its getting here, the good majority of the modern world still has higher taxes then us, they just get more out of it.
    When you have hundreds of millions of dollars you can make any country a modern country for yourself!

  30. #30
    High3rEl3m3nt
    SBR's 7 figure Contractor
    High3rEl3m3nt's Avatar Become A Pro!
    Join Date: 09-28-10
    Posts: 8,004
    Betpoints: 4134

    Quote Originally Posted by OMGRandyJackson View Post
    When you have hundreds of millions of dollars you can make any country a modern country for yourself!
    I am willing to bet that you would rather have a million to your name in the U.S., than a million to your name in Uganda.

  31. #31
    davidchong
    davidchong's Avatar Become A Pro!
    Join Date: 02-10-06
    Posts: 1,806
    Betpoints: 697

    paquiao will ask for a higher purse to cover taxes....

  32. #32
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,603
    Betpoints: 9216

    How come non-American boxers have to pay US tax anyway?

    I earn income from the US (as an Australian) and have never had to pay tax there. Just fill out a W10 form for the company paying me.

  33. #33
    nosniboR11
    fu
    nosniboR11's Avatar Become A Pro!
    Join Date: 09-02-08
    Posts: 10,042

    pavy stfu you ignorant liberal

  34. #34
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 82,188
    Betpoints: 316

    Quote Originally Posted by Optional View Post
    How come non-American boxers have to pay US tax anyway?

    I earn income from the US (as an Australian) and have never had to pay tax there. Just fill out a W10 form for the company paying me.
    Because the income generated was from US taxpayers money. Americans bought the tickets for the fight and watched the pay per view.

  35. #35
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,603
    Betpoints: 9216

    Quote Originally Posted by pavyracer View Post
    Because the income generated was from US taxpayers money. Americans bought the tickets for the fight and watched the pay per view.
    That's not the reason.

    I have been selling shit to Americans, and for American companies, for more than 15 years and am 100% legal tax wise.

    Taxes are generally only required from those enjoying the benefits of that tax money.

    I find it weird that only in America does the govt think it can take a huge chunk of tax from foriegn poker players too.

12 Last
Top