Is this true about Anthony Joshua taxes?

[EluguHcman]

Is it true that Anthony Joshua made $91 million from his fight with Jake Paul but he has to pay $43 million in taxes?

Anthony Joshua made $91M from his fight with Jake Paul but he’s going home with $48M after taxes from both UK and US I’m mad on his behalf

I asked because I search for news for it but I did not see any yet but I believe this can be possible in such countries that are highly taxing their citizens.

If it is true, the tax is too much is my opinion.

If that is true, then it must be ridiculously crazy of such high tax to return back almost 50% of your income. Is it because the guy is just fighter that only has his strength to invest in the game that made the authorities suggest he should pay such high value of tax? Or does the tax percentage also covers his teams expenses recovery? Because I know how coach and sponsors may also have their own shares
So does it mean is going home with the less $48M?

If that is really true, it feels unfair but we might just be here troubling ourselves while the young man is just okay by it. Obviously he is not complaining and in as much this is not also verified, we should not justify by the common media news.

[Ever-young]

No doubt that taxes are high, especially for those who earn from sport. But in situation with AJ, when he gets only half of his reward, I think media wasnt telling truth and made this "taxes" things to make article more attractive. AJ will no doubt pay a lot of taxes, but also his manage will get a nice %, team, camp cost money, stay in US. I think AJ has made a sum-up and announced his nett, but reporters understood (or made it on purpose) that taxes will cut half of his reward.

The tax is just very big their should be some adjustments to most of those imagine paying tax in the place where the fight was conductor instead of it to end their you are still expected to pay another tax in your own country of residence, it’s as if you are given away almost half of the earning to different government, Jake on the other hand will only have to pay tax to the US government and might be left with more money to enjoy from the fight than Anthony Joshua.

[Maslate]

I noticed there are two flags there, UK and US. Does that mean double taxation?

Technically, it is not double taxation, since one is a withholding tax (US) and the other is income tax (UK). Double taxation means being taxed twice on the same income without relief (tax credit). But I do not think that if AJ were taxed only under UK income tax he would earn more, since US tax can be claimed as a UK tax credit, meaning he would pay the same anyway if only UK income tax applied.

Total tax (UK) = UK income tax - US tax credit, so if he still pays tax after the credit, it means he pays the same overall anyway.

That’s how the law works, and that’s why the news can be misleading. It makes it look like AJ has to pay massive taxes from different sources and ends up with less than 50% of what he earned from that fight. Your computation is right though.

[robelneo]

Is it true that Anthony Joshua made $91 million from his fight with Jake Paul but he has to pay $43 million in taxes?

If it is true, the tax is too much is my opinion.

Not really good, both boxers risk their lives, especially Jake, who suffered a broken jaw. This could discourage boxers from overseas fighting on US soil. Is this always the case, or just an isolated one? There have been many cases like this of boxers from other countries fighting in the US.
Joshua seems to be ok with the taxes; he wants to satisfy boxing fans, but for the fans and the boxing community, it looks unfair. They have seen how brutal the outcome can be, and stealing from both fighters is just not right.

[cryptomaniac_xxx]

Is it true that Anthony Joshua made $91 million from his fight with Jake Paul but he has to pay $43 million in taxes?

Anthony Joshua made $91M from his fight with Jake Paul but he’s going home with $48M after taxes from both UK and US I’m mad on his behalf

I asked because I search for news for it but I did not see any yet but I believe this can be possible in such countries that are highly taxing their citizens.

If it is true, the tax is too much is my opinion.

I don't know but it could be from the US only as he is a non US citizen fighting in that country. And it could also be the venue of the fight that's why the tax is so huge. As far as I know, if they fought like in Las Vegas which has no tax (correct me if I'm wrong).

That's why most of the fights happened on that city and one of the best boxer Floyd Mayweather lives their. But as far as taxes goes, it's been a issue for many non US citizen because they have to pay a huge tax, like Manny Pacquiao during his prime years fighting in the US.

[Fivestar4everMVP]

Is it true that Anthony Joshua made $91 million from his fight with Jake Paul but he has to pay $43 million in taxes?

Anthony Joshua made $91M from his fight with Jake Paul but he’s going home with $48M after taxes from both UK and US I’m mad on his behalf

I asked because I search for news for it but I did not see any yet but I believe this can be possible in such countries that are highly taxing their citizens.

If it is true, the tax is too much is my opinion.

Well, until this is proven to be true by legitimate and trusted sources, I will not believe it's true, reason being that I am someone who spends a lot of time on x and have come to the realization long before now that 90 percent of the information, news we see on x are usually lies of people chasing clout, some for content sake, which they do not for any other reason but for maximum possible engagement.

But on the other hand as well, if I should assume this to be true, then its absolutely barbaric, insane and so upsetting, and one may even want to ask what was US and UK's contribution to the fight that gave them the power to demand taxation in a such a high amount? Maybe this the question to get the right answer to before we conclude on any judgment.

[Distinctin]

I don't know but it could be from the US only as he is a non US citizen fighting in that country.

Regardless of his citizenship, as long as the income is earned inside a certain country, taxes are due to that country. That’s basically how the law works. Governments will always take their cut, it just varies from country to country depending on the tax rate.

Big countries like the US and the UK are more aggressive when it comes to taxes, but that’s because they collect more and, in theory, spend more as well. Whether people agree with it or not, that’s how the system is justified.

[FirmWars]

According to punch news, it's true that he paid almost half the money that was won for tax and for obvious reasons we can see that all that tax was not paid to only US, it's too much but had it been he didn't also paid in UK, it probably might not have been so much. There's no way he would have escaped since it's going to go against the rules and probably be charged for evading tax. I'm really surprise about this discovery, it's just as if he worked for the government and gave them 45% of his earnings while he took 55%.

[stadus]

. I'm really surprise about this discovery, it's just as if he worked for the government and gave them 45% of his earnings while he took 55%.

Now you know, so next time it won’t be a surprise anymore. 
That’s just how high taxes are in the US. Even in the NBA, you can clearly see how big the tax hit is, you can check it on https://www.spotrac.com/nba/tax.

So when we see a player signing a $180 million contract, we assume it’s massive. But after taxes, it might not even be worth close to $100 million in actual take-home pay.

[Adbitco]

Is it true that Anthony Joshua made $91 million from his fight with Jake Paul but he has to pay $43 million in taxes?

Anthony Joshua made $91M from his fight with Jake Paul but he’s going home with $48M after taxes from both UK and US I’m mad on his behalf

I asked because I search for news for it but I did not see any yet but I believe this can be possible in such countries that are highly taxing their citizens.

If it is true, the tax is too much is my opinion.

Yes he will pay such outrageous amount of money tax but that's if he receives the money directly into his personal account, of course he knows this but here's the twist. His not foolish enough to receive such amount of money directly into his personal bank account, men like he is already has people in the financial institution who will help advice him better, so his not going to receive that money directly. He will invest the money afterall it's not going to an income tax anymore where his required to pay such heavy taxes. He could simply buy shares or bonds and with this his going to pay lesser percentage of tax which means there's no way his going to pay that outrageous amount as tax. Their are always ways these big shots use the system to their advantage because it's already embedded inside the system itself, you just need to know people that knows their way within and inside the system.

[crwth]

I don't know if there is an exact impact, but it would depend on where it was held, right? Maybe the taxation laws or any treaty could give an accurate breakdown of the deductions and all the payables? For sure, there are strategies to reduce taxes with the help of legal experts. I remember the reason why F1 drivers live in Monaco is to minimize taxes, etc.