Oleksandr Usyk and Tyson Fury. | (Credits: Twitter)
British Boxing star Tyson Fury will be required to relinquish nearly half of his earnings from his bout against Ukraine’s Oleksandr Usyk on legal grounds. Even as the 36-year-old heavyweight fighter will reportedly earn $75 million from his fight against Uysk in Saudi Arabia, he stands to lose nearly 50% of the money due to the tax regulations in the United Kingdom.
Around $35.6 million will reportedly be taken away by the Revene and Customs as Income Tax, while a further $1.5 million will go for National Insurance Contributions. Notably, Uysk had defeated Fury during their first fight in May and has already claimed 60% of the staggering $189.66 million rematch amount. A spokesperson of Jeffbet, a gambling company based in UK, said in this regard, as quoted by The Hindustan Times/The Mirror.
“If you are a resident in the UK you have to pay tax on overseas earnings in the same way, and that remains the same no matter how much someone might earn. Good tax advice is always important and in this case you can be sure the Fury camp will have looked at an agreement that would be the most beneficial.”
