The BCCI will Give Tax Of 963 Crores To The Government Of India On Behalf Of ICC For WC 2023

World Cup 2023: The BCCI will Give Tax Of 963 Crores To The Government Of India On Behalf Of ICC For WC 2023. Usually, the ICC releases the World Cup schedule at least a year in advance.

World Cup schedule a Year Ago:-

But this time it could not happen until the BCCI got the necessary approval from the Government of India. One of the important issues involved in this is the relaxation of tactics for the tournament.

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The BCCI is expected to inform the ICC soon about the exact position of the Government of India on the issue of tax exemption.

Also three men’s events first 2016 T20 World Cup, 2018 Champions Trophy, and 2021 T20 World Cup which took place in Dubai due to Corona.

ICC signed a Host Agreement:-

Whereas now ODI World Cup is 2023, there is no discount on tactics. Let us tell you that BCCI and ICC signed a host agreement which included tax exemption.

And as per the contract, the BCCI was “obliged” to help the ICC (and all its corporate partners) in getting the tax exemption.

According to ESPNCricinfo, Indian tact officials told the ICC last year that broadcast income from the 2023 World Cup would be subject to a 20% tax mandate (excluding surcharge).

To Be “adjusted” Against The Profits of The Indian Board:-

The BCCI then noted that any tax incurred by the ICC would be “adjusted” against the profits of the Indian board from the ICC’s central revenue pool in a memorandum sent to its members and state associations.

Notably, the ICC’s expected broadcast revenue from the 2023 World Cup was indicated by the BCCI in the memo as USD 533.29 million.

It claimed that the 10.92% tax order on it would have a “financial impact” of about 58.23 million UDS on it.

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Also, had the tax been 21.84%, it would have been four times higher at USD 116.47 million (INR 9,62,67,69,615.00 crore).