Pacquiao earns over $100K per punch vs Bradley

Photo by Steve Marcus, Reuters
Not only did Manny Pacquiao reclaim his WBO welterweight title from Timothy Bradley, he also gets guaranteed earning of $20 million.
This means, he earned $101,010 for each of the 198 punches he connected against the Indio, California native.
According to Compubox, Pacquiao had a punch efficiency of 35% or 198 of 563 punches during his 12-round rematch against Bradley.  

Bradley, on the other hand, landed only 22% of his punches or 141 out of his 627 attempts against Pacquiao.

The Pacman also clipped Bradley with 148 power punches throughout the fight. This is 39 more punches than the American’s 109.

Bradley stands to receive a guaranteed $6 million, which is the biggest paycheck in his 33-fight career.

Pacquiao’s guarantee of $20 million may still go up, depending on the pay-per-view sales.

The Filipino superstar, however, will still have to pay his tax duties in the US Internal Revenue Service (IRS), which is expected to get a big chunk of Pacquiao’s earnings.

Pacquiao also still has to settle a P2.2-billion tax case with the Bureau of Internal Revenue in the Philippines.
The P2.2 billion in tax liabilities covering 2008 and 2009 stemmed partly from Pacquiao’s failure to present proper documentation of his tax payments to the IRS of the United States and to pay value added tax.

Since Pacquiao is a resident citizen of the Philippines, he is entitled to a tax credit. But he should present a proper documentation of his tax payments. 

In addition to the tax required to be paid, 25% penalty in case of failure to file the return and pay the tax on time or file the return with the proper person or pay on time the full amount of tax shown on any return or full amount of tax in case no return is required to be filed, 50% penalty in case of willful neglect to file the return on time or false or fraudulent return in willfully filed, and in case of deficiency or delinquency in the payment of tax, an interest at the rate of 20% per annum shall be imposed from the date prescribed for payment until the amount is fully paid, shall be imposed.

Pacquiao, who is also a businessman, is also requited to pay value-added tax.
It is reasonable for a government agency to collect taxes from an individual. The government protects the local industry. The government protects its people. The tax system enables the government to generate much needed revenues to support and enhance public service.

It is our responsibility to pay taxes. It is the responsibility of the government to protect us. If you don't do your duties, you're like a crocodile in the Congress.

Author: Paul Michael Camania Jaramillo

Student| Youth Advocate | Leader | Environmental Advocate | Writer | Blogger | RH Advocate

I am neither especially clever nor especially gifted. I am only very, very curious. — Albert Einstein
I write about darkness because I want to show the light — Jose Rizal

Paul is an Accountancy graduate from the Northwestern University. He works for VoicePoints. He was the former College Editors Guild of the Philippines-Ilocos Chairperson. He likes discussing tax issues. He was one of the finalists of the PWC Cup (Taxation and Payroll Accounting)

He has been involved in different advocacy and defending human rights. As a blogger, writer, netizen and an advocate, he has found focus & interest on sexuality & reproductive health, deaf rights & legal access and youth development, leadership, environment advocacy, issues in the nation and in the world, religion, culture and human rights At the age of 14, he has fully embraced the call of leadership.

He was a Lussoc National High School 'The Sring' and 'Ang Batis' news editor. A radical visionary leader, he has led organizations of the Supreme Student Government, Science Club, Youth for Environment in Schools Organization, Interact Club, Math Club, Philippine National Red Cross and other organizations in their institution. He was also awarded as a distinguished student leader as a former officer of the Supreme Student Government and received President Gloria Macapagal Arroyo Campus Journalism Award. He attended two National Leadership Training for the Student Government Officers, Rotary Youth Leadership Awards, Youth for Environment Summer Camp, Science Leaders Congress and Schools Press Conference. Joined and won in the several contests from their school to the national level.

He is an organist and an officer of the Church of Christ (Iglesia Ni Cristo).

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