BCCI To Request Govt For Tax Waiver:
The BCCI has begun to think about the next edition of the event scheduled in India in October-November 2021, before settling on the fate of the T20 World Cup scheduled in Australia later this year. Some tax issues must be solved so that the board will not lose revenue, as it did after hosting the 2016 T20 World Cup.
As tax authorities in India did not grant an exemption in 2016 from the case, about Rs 150 crore were deducted from BCCI’s share of global revenues in the International Cricket Council (ICC). The 50-overs World Cup is set for India in 2023 as well. The BCCI will appeal to the government to offer a waive tax so that after hosting those two World Cups, it will not lose revenue.
“At a recent online BCCI Council meeting, the decision was made to obtain a tax exemption from the government. Following a lockdown, the request is formally made. This is the BCCI ‘s view of the best way for two World Cups to be held in India and not to sacrifice revenue from the ICC, “an official development report said.
The World Cup of Media rights (ICC) sells broadcast rights for activities like the T20 World Cup and the 50 overs World Cup, and the U-19 World Cup in a period of eight-year. This is the biggest source of income for the world. That is why it is seeking tax exemption from the host countries. Sources in the ICC state that India is the only non-waiver country.
BCCI Hired A Legal Consultant In UK To Address The Tax Issue:
The ICC did not pay the Indian authorities directly taxes for the 2016 case. From which Star Sports broadcasters paid the world body, it was deducted. In addition, the ICC deducted the amount from the share of the BCCI. Given that the 2021 T20 World Cup is in the same 8-year cycle as 2016, if the government does not offer a waiver, the BCCI will lose a similar amount.
When BCCI was headed by the Administrative Committee, it had employed a legal consultant in the United Kingdom to deal with the tax issue. This appears to have brought no results to the government, leading the Board of Directors headed by elected officials.
A teleconference will take place on 28 May by the ICC Committee of the Heads of the Member Boards. In October-November the T20 World Cup will be presented in Australia. According to press notes that the case can be moved to next year.
Another option is to have the tournament behind closed doors as scheduled. The issue of saliva and sweat is also on the agenda. This is expected to be suggested by the ICC ‘s Cricket Committee. The BCCI will be led by President Sourav Ganguly at the meeting.
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