World Cup 2023: BCCI could lose Rs 955 crore if ICC doesn't get tax exemption
India TV NewsHighlights India will host next year's 50-over World Cup in October-November It is understood that the BCCI is still trying to negotiate The BCCI's share from the ICC's central revenue pool for the tenure of 2016 to 2023 is USD 405 mn The Board of Control for Cricket in India could lose around Rs 955 crore if the central government sticks to its decision to levy a tax surcharge of 21.84 per cent tax on ICC's broadcast revenue from the upcoming 2023 ODI World Cup, according to a Board report. However, India's tax rules don't allow such exemptions, the BCCI has already lost close to Rs 193 crore as the government didn't exempt tax surcharge for hosting the 2016 ICC T20 World Cup. According to the BCCI document shared with the state bodies, the adverse impact on the Board's revenue from the ICC, if a 21.84 percent tax is paid, would be USD 116.47 million. "It is to be noted that any tax cost incurred by the ICC for the 2023 event in India will be adjusted with the BCCI's share of revenue from the ICC," the report further stated.
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