ICC gets tax exemption from member countries for world tournaments
ICC does not get any tax exemption for T-20 World Cup in 2016
new Delhi. The ICC has told the Board of Control for Cricket in India (BCCI) that it will have to compensate itself for the tax of $ 2.10 million (about Rs 149 crore) for world championships like 2021 T20 World Cup and 2023 One Day World Cup. However, the BCCI has sought time to take a decision on the matter till the end of the Lok Sabha elections. The ICC has accepted this demand.
No tax exemption in Indian tax law
International Cricket Council (ICC) gets tax exemption from member countries for organizing world-class tournament, but for the T-20 World Cup held in India in 2016, it has not been given any relaxation in tax, Indian Tax Law Do not give any discounts. Incidentally, due to the withdrawal of Formula One race from India, tax was not included in the tax exemption.
This issue still remains between the global organization of cricket and its richest member board. This issue was discussed in the recent ICC meeting of the ICC. ICC Chairman Shashank Manohar told the BCCI that according to the rules, if the Indian Board does not get any tax exemption, then the Indian Board will have to bear the responsibility of paying taxes.
On condition of anonymity, a BCCI official said, "Manohar has clearly stated that the BCCI needs to take a decision on the tax exemption." The official said, "Since it is related to tax rules . It can also change over time. The BCCI believes that the general elections should be waived and the decision will be taken only after this.
The BCCI is of the opinion that it will ask its various sponsors to bear the burden of tax, it would be beneficial for all parties. The official said, "There is such a clause in the contract. Under this, if the host country does not have a tax exemption rule, then sponsors can also be asked to take up the responsibility of tax. Because of this, BCCI can ask its various sponsors to raise this burden.
Denied Vinod Rai's comment Vinod Rai, head of the Administrator's Committee (COA) on this issue, said, "The rules of tax are quite intriguing. I will be able to comment on this issue only when I have complete information about it. However, I do not think this issue can be dealt with.