ICC World Cup 2023 could be moved out of India

Indian Cricket Team (Source: Twitter)

In a shocking development, World Cup 2023 scheduled to be held in October-November could be moved out of India if the BCCI is unable to provide a tax exemption to the ICC. 

The latest news coming is a little more stressful in regards of the matter that is under the scanner since 2016 as even then the Indian government denied the tax waiver causing BCCI a loss of around ₹ 190 crores.

The hosting board is required to provide a tax privilege certificate from the government to retain the rights for the event, in case it doesn't, the entire tournament could be shifted out.

The information retrieved from News18, the BCCI could be denied another exemption causing the World body to indulge in talks with the board about the upcoming mega event.

As of now, ICC have already generated a tax bill of around ₹ 900 Crore which was derived from the 21.84% of the broadcast revenue for the tournament.

What a source mentioned about the tax issue

“It’s BCCI’s money. If the ICC can’t settle this issue before the World Cup arrives, and end up deducting it from India’s revenue share from the ICC, even this will end up in a legal battle,

“What will the government tell its tax-paying citizens? That the only sport in this country that earns money will be exempt of taxes? How well will that sit? There’s no way the government will say anything on this."

What options ICC have in case they do not receive a tax exemption

1. Move the entire tournament out of India
2. Ask other members to let go of their tax revenue
3. Raise an interim tax bill which could be based on percentage cut, previously used in 2016, causing another tussle between the two bodies.

Also Read: England eyeing series whitewash: Ben Stokes warns Pakistan ahead of third Test