Pac man made over 20 million dollars in his victory against Algieri over the weekend. Who knew that choosing to hold the match in China had so many incentives. Hit the jump for details.
Via Yahoo Sports:
Boxing champion Manny Pacquiao saved millions of dollars this weekend by choosing to fight American boxer Chris Algieri in China instead of the United States. Forbes reported Pacquiao won $23 million when he defeated Algieri Sunday, and thanks to much lower tax rates in both China and his home country of the Philippines than in the States, he’ll get to keep more than 60 percent of it. Even if his earnings are taxed in China at 12 percent, and the Philippines at 20 percent, he’ll save more than $2 million, because the IRS could have taken up to 39.6 percent. Pacquiao, who has won world championships in eight different weight classes, has frequented Las Vegas in the past for boxing matches. But his promoter, Bob Arum, told USA Today avoiding the IRS was a factor in his decision to fight in China Sunday. Arum said, “We are talking millions of dollars he can save.”
Click above gallery for pictures.
