New Delhi: This year India is due to host the T20 World Cup. If the Indian government does not give tax exemption, the BCCI may have to pay a tax of Rs 906 crore for this World Cup. Even if the government gives some relief, the Indian council will still have to pay 227 crore in taxes.
The World Cup is only 10 months away and the ICC has kept the United Arab Emirates (UAE) as a backup. BCCI has already missed two deadlines – December 31, 2019 and December 31, 2020. Now the pressure has increased on them to decide whether they want to host the tournament or not. An official said the new deadline was in February.
The central finance ministry has an appeal pending with the BCCI for a tax exemption in this T20 World Cup. However, the government has taken no decision on this matter.
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What is interesting is that the BCCI is not even recognized as a national sports federation by the Ministry of Sports.
After missing two deadlines, the ICC gave two options to the BCCI, which appears to be the last for the BCCI. The first is the T20 World Cup to be held in the UAE and the second is the guarantee that if the Indian council is not able to obtain a tax exemption, it will have to take responsibility for the tax, which is d ‘at least Rs 226.58 crore and more. 906.33 crore will be Rs.
BCCI Secretary Jai Shah is the son of Interior Minister Amit Shah and Treasurer Arun Kumar Dhumal is the brother of Minister of State for Finance Anurag Thakur. Anurag has also been president of BCCI in the past. The Ministry of Finance has to make a decision on this.
Also in 2011, Manmohan Singh’s government accepted the call for a last-minute tactical waiver.
In 2016, when India hosted the T20 World Cup, the Modi government had granted a reduction of only 10% and that is why the ICC reduced BCCI’s stock by $ 2.375.
At the BCCI AGM held on December 24, BCCI officials discussed it within the General Body. According to an official, there were two divided groups in this meeting, who were not unanimous that if the government does not grant tax exemption, then the BCCI should pay taxes.
If the government refuses, then BCCI’s organization of the 2023 One Day World Cup may also be in danger. At the same time, experts say if the government does not grant a tax exemption for the 2021 T20 World Cup, it is less likely that they will change their vote in 2023.
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One expert said: “So the question is simple. If the government did not grant the exemption in 2016, how can it give in 2021?
The tax issue arose because Star India, ICC media rights, is an Indian company and the broadcaster donates money to the ICC. If the Indian government does not grant a tax exemption to Star India, the broadcaster will not pay the full price set to ICC. If the ICC does not get the full star amount, it will pay less money to member countries.