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

[PhillyFlyers]

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-former-welterweight-champ-a7474

[bobby heenan]

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

[PhillyFlyers]

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?

[bobby heenan]

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.....

[bobby heenan]

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)

[PhillyFlyers]

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.

[bobby heenan]

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

[Jetsfan]

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?

[bobby heenan]

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

[TheMoneyShot]

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.

[tto827]

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.

[RubberKettle]

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

[TheMoneyShot]

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.

[Jetsfan]

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?

[tto827]

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.

[tto827]

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.

[PhillyFlyers]

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?

[Jetsfan]

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.

[Jonah]

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?

[PhillyFlyers]

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.

[Wilfred]

Who cares?

[bobby heenan]

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

[Grits n' Gravy]

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.

[bobby heenan]

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

[King Mayan]

When will all this tax crying stop???

Nobody gives a shit...

[pavyracer]

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.

[k13]

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.

[MUHerd37]

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

[OMGRandyJackson]

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!

[High3rEl3m3nt]

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.

[davidchong]

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

[Optional]

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.

[nosniboR11]

pavy stfu you ignorant liberal

[pavyracer]

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.

[Optional]

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.