Luckily for God, the case is going to be the same in the case of the Indian Cricket Board (BCCI). If not, why is it that the BCCI will earn money by organizing the tournament and the International Cricket Council (ICC) will pay tax on that income to the Government of India!
Having the responsibility of hosting any World Cup or any major tournament is always quite profitable for a country’s cricket board. Many sponsors come with these global tournaments of ICC. Apart from this, the ticket prices of the tournaments are a bit higher than the normal series. Huge amount of money also comes from here. Besides, cricket-related business also flourished during this time.
The ICC has announced the schedule of all the global tournaments to be held from 2024 to 2031. There will be a total of eight ICC tournaments in these eight years — four T20 World Cups, two ODI World Cups and two Champions Trophies. India has been given the responsibility of organizing three of these tournaments. They will host the 2029 Champions Trophy alone. Besides, India will host the T20 World Cup in 2026 jointly with Sri Lanka. Bangladesh is their co-host in the 2031 ODI World Cup.
The BCCI does not want to pay tax on the money earned from these three tournaments to the Indian government. But the Indian government is also not willing to waive the tax in any way. The BCCI has therefore chosen another path. They have suggested that the ICC pay the tax money to the Indian government on their behalf. According to a BCCI source, President Sourav Ganguly and Secretary Joy Shah raised the issue at an ICC meeting. He claimed that paying such a huge amount of money as tax was ‘unfair’. He told the ICC that the government had waived the taxes of all other countries’ cricket boards on the occasion of the World Cup. But India’s central government is unwilling to relax its rules for the World Cup. As a result, we think the ICC should pay taxes to the Indian government on behalf of the BCCI. ”
The ICC has also agreed. India’s acceptance of the ICC is bound to bring a flood of joy to the Indian cricket community. India’s income from these three tournaments will increase a lot! The BCCI had to pay Rs 1,500 crore to the Indian government for taxes from the tournaments. It will not be paid now, so it will be completely in the profit book!. .
The BCCI has been given the responsibility of organizing three of these eight tournaments. But they have made it a condition of the ICC that the ICC should pay the entire amount of tax that the BCCI is supposed to pay to the Indian government for hosting the World Cup. The ICC has accepted the BCCI’s condition. The BCCI will benefit about 1 thousand 500 crore rupees!