Anthony Joshua to lose £32m after Jake Paul victory

British boxer Anthony Joshua is set to lose an estimated £32 million in taxes following his victory over Jake Paul in their heavyweight bout in Miami, the United States.

Joshua stopped the YouTuber-turned-fighter in the sixth round at the Kaseya Center on Friday night, sealing a knockout win despite later admitting his performance was not perfect.

Joshua and Paul shared a prize pot of about £137 million from the Netflix-broadcast fight, earning roughly £68.5 million each.

However, the former two-time unified heavyweight champion will not take home the full amount due to heavy tax obligations.

As a UK resident who fought in the United States, Joshua is liable to pay tax in both countries.

Anthony Joshua knocks out Jake Paul in sixth round

According to estimates by AceOdds, about 37 per cent of his earnings — approximately £25.6 million — will go to the United States Internal Revenue Service in federal income tax.

Although Florida does not charge state income tax, the fight’s US location makes the purse taxable at the highest federal rate.

In addition, Joshua is expected to pay about £5.5 million in UK taxes to HMRC, alongside roughly £1.4 million in National Insurance contributions. Altogether, his total tax bill is projected to be around £32 million.

Despite the massive deductions, the 36-year-old boxer maintained that financial reward was not his main reason for taking the fight.

He said: “It’s not even my biggest payday; it’s not about money.

“For me, it was more about the opportunity. I had to showcase my skills to the world.”

The Star