Published 17:12 IST, January 4th 2021
BCCI stands to lose whopping ₹906 crore over 2021 T20 World Cup tax exemption issue?
In order to host the upcoming T20 World Cup 2021, the Sourav Ganguly-led BCCI will have to meet tax exemption guidelines of the Indian central government.
The Board of Control for Cricket in India (BCCI) could end up paying as much as ₹906 crore to the International Cricket Council (ICC) if the Indian central government declines them a full tax exemption. The exemption in contention is for BCCI to stage the ICC T20 World Cup 2021 later this year. If BCCI wants to host the tournament as scheduled, they would still be liable to pay ₹227 crore upon getting partial tax exemption from the government.
BCCI President Sourav Ganguly with T20 World Cup 2021 Trophy
It's time for india in 21 ..ICC T20 World cup @ICC @BCCI @JayShah @ThakurArunS pic.twitter.com/Ob4m5RWRqY
— Sourav Ganguly (@SGanguly99) November 12, 2020
ICC sets deadline for Sourav Ganguly-led BCCI for hosting T20 World Cup 2021
The T20 World Cup 2021 is scheduled to be hosted by India in October and November later this year. As per ICC rules and regulations, host member nations need to secure a full tax exemption from their government and need to sign an agreement with the apex body before hosting any marquee event, like World Cup, T20 World Cup etc. According to reports, the BCCI has already missed two deadlines set by the ICC for the upcoming T20 World Cup 2021.
The ICC has now given two options to the BCCI. The options, which are also likely to the final ones since BCCI missed their earlier deadlines, includes relocating the entire tournament to the United Arab Emirates (UAE) or paying a minimum of ₹227 crore and a maximum of ₹906 crore, depending upon meeting the tax liabilities.
Also Read | Kane Williamson Breaks HUGE All-time New Zealand Record After Becoming World No.1 In Tests
The matter was also reportedly discussed by the Indian board during their Annual General Meeting (AGM) on December 24. However, several BCCI officials were apparently divided into two groups in taking a final call. While speaking with The Times of India, an official stated that it would become a “matter of prestige” if BCCI has to pay tax in order to host the T20 World Cup 2021.
IPL 2021 updates
The T20 World Cup 2021 and its tax exemptions aside, the BCCI will soon be hosting the much-awaited Dream11 Indian Premier League 2021 (IPL 2021) season. The tournament is tipped to launch sometime in April.
Also Read | Virat Kohli & Sachin Tendulkar Lead Wishes As India Register Famous Win Against Australia
Image source: Sourav Ganguly Twitter
Updated 17:12 IST, January 4th 2021