BCCI To Save Rs 1500 Crore As ICC Agrees To Bear Taxes For 3 Events In 2024-31 Cycle

The Board of Control for Cricket in India (BCCI) has been given a major shot in the arm as the ICC has agreed to bear the taxes of the BCCI to be paid to the Indian government for the 3 ICC events to be hosted in India in the 2024-31 cycle.

As finalised on Tuesday by the governing body meeting, India will host three ICC events in the next cycle – the 2026 T20 World Cup (with Sri Lanka), the 2029 Champions Trophy as well as the 2031 ODI World Cup (with Bangladesh).

ICC to pay taxes for BCCI, Indian board to save at least Rs 1500 Crore

The ICC will pay 10 per cent tax to the Indian government for each of these three events, which will take place in India, according to a report in Times Of India. The report revealed that this will help the BCCI save at least Rs 1500 Crore ($200 million) over the course of three tournaments.

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The Indian board hosted the 2016 T20 World Cup and will next host the 2023 50-over World Cup. The BCCI is reportedly set to incur a loss of around Rs 750 Crore ($100 million) for these two events; the losses could have mounted to $150 million had they hosted the T20 World Cup 2021 in India as well before the tournament was forced out to the UAE due to covid-19 pandemic.

“Every other cricket board gets tax exemptions from their government. But BCCI can’t expect the central government to bend its laws for us. Hence, all the members felt that the ICC should bear the damages. Anyway, BCCI generates the heaviest revenues by hosting events in India. The BCCI will not have to suffer any cuts from the ICC’s revenue pool,” a BCCI official in the know of development told TOI.

BCCI president Sourav Ganguly and secretary Jay Shah raised up this issue in the ICC board meeting, claiming it was unfair on the BCCI to lose out on such a huge amount for no fault of theirs.

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