The International Cricket Council (ICC) has decided to bear the tax burden for the Board of Control for Cricket in India (BCCI) after the latter got its exemption request snubbed by the Indian government. The BCCI had requested the government to exempt taxes over the profit that it will acquire from hosting events such as the T20 World Cup, the ODI World Cup and the Champions Trophy for the next Future Tours Programme (FTP) cycle.
As per a TOI report, the BCCI has managed to save approximately Rs 1,500 crore as the members of the global governing body for Cricket accepted its argument that the law of the land can’t be changed and hence all the members decided for the ICC to take that responsibility.
The BCCI will also not suffer any loss from the ICC revenue pool as all the board members accepted its position as one of the biggest contributors to the game and ICC revenue pool.
“Every other cricket board gets tax exemptions from their government. But BCCI can’t expect the central government to bend its laws for us. Hence, all the members felt that the ICC should bear the damages. Anyway, BCCI generates the heaviest revenues by hosting events in India. The BCCI will not have to suffer any cuts from the ICC’s revenue pool," TOI quoted a BCCI official as saying.
India have been awarded the hosts status for three major events including the 2026 T20 World Cup along with Sri Lanka, the 2031 ODI World Cup along with Bangladesh and the 2029 Champions Trophy.