ICC Wants to Cut BCCI’s Income by 10%

ICC Wants to Cut BCCI’s Income by 10%

ICC Wants to Cut BCCI’s Income by 10%

This is to recover from the tax burden of the 2016 World T20.

The BCCI is set to seek advice from an English law firm after the ICC threatened to deduct a part of the Indian cricket board’s annual revenue share in a continuing argument on tax exemptions for events held in India. The ICC wants complete tax exemption for all global events happening in India and is still awaiting a waiver for the 2016 T20 held in the country.

According to a document from the Committee of Administrators dated July 6, the ICC wants to recover the tax burden for the 2016 event by slashing the BCCI annual share from the ICC revenue. The BCCI has informed the CoA that the Board “ensured all efforts to make tax exemptions to ICC. Prior to this event, these events have always received tax exemptions.”

"For the 2016 event, tax authorities directed that 10 per cent of the amount payable by ICC's broadcaster (Star Sports) to ICC under media rights agreement (MRA) should be withheld. The CoA was informed that ICC is now attempting to recover the same amount by deducting the same amounts payable by ICC to BCCI," a report stated.

The CoA has asked the BCCI legal team to contact an "English law firm" since the "agreement between BCCI and the ICC in relation to the hosting of the 2016 World T20 is governed by English law." A senior BCCI official said that if ICC has its way, the annual revenue of $405 million earmarked for the richest cricket board could be slashed by USD 40.5 million.

The 2016 T20 World Cup was a tournament held in India using the 20-over format of the game. The West Indies won the tournament with England as runners-up. To find out more about the T20 World Cup and other tournaments, leagues, and matches, visit Betwala’s page.

READ MORE: The Necessity of Sports Leagues

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