Pac Gets USD 22M
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pacquiao gets taxed for all the income he makes in the u.s.Didn't know phils has income tax. I know fight was made in U.S. ,but Manny isn't U.S. citizen so he doesn't get hit with IRS, unless he stays too long in the U.S.
That was the entire reason why Manny's camp spent some time in the Phils before training at Wild Card. So his purse wouldn't get taxed by IRS.
the problem with staying in the u.s. too much is they'll consider him a u.s. resident and tax him on all his income. income that he didn't make in the u.s.Comment
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The Philippine Bureau of Internal Revenue sets a 32% tax on individuals with annual net incomes of at least PHP 500,000, which include Pacquiao.
I'm not in that bracket yet but will probably be in two or three years. Sucks. The only way to avoid that crap is having a lot of kids.
more kids = lower tax.Comment
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Damn, it's like the government is just encouraging overpopulation huh?The Philippine Bureau of Internal Revenue sets a 32% tax on individuals with annual net incomes of at least PHP 500,000, which include Pacquiao.
I'm not in that bracket yet but will probably be in two or three years. Sucks. The only way to avoid that crap is having a lot of kids.
more kids = lower tax.Comment
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