India may lose hosting rights of ICC 2021 Champions Trophy due to tax wrangle
The International Cricket Council (ICC), which has approached the Indian government for tax exemptions for the tournament, is yet to receive a confirmation from the host nation. The ICC has, therefore, started to look for alternative hosts for the event.cricket Updated: Feb 10, 2018 15:40 IST
The Indian government’s stringent tax policy may rob the country of the opportunity to host the ICC Champions Trophy in 2021.
The International Cricket Council (ICC), which has approached the Indian government for tax exemptions for the tournament, is yet to receive a confirmation from the host nation. The ICC has, therefore, started to look for alternative hosts for the event.
In a statement issued after the meeting of its Board on Friday, cricket’s world governing body said that it has begun to explore the possibility of hosting the event in some other countries with similar time zone due to the tax-related concern.
Receiving tax exemptions for major sporting events is a standard practice followed across the world and the ICC wants the same from India. The ICC, though, is also trying its level best to solve the issue with the Indian government.
“In other matters, the Board expressed their concern around the absence of a tax exemption from the Indian government for ICC events held in India despite ongoing efforts from both the ICC and BCCI to secure the exemption which is standard practice for major sporting events around the world,” the ICC said in a release.
“The Board agreed that the ICC management, supported by the BCCI will continue the dialogue with the Indian government but in the meantime directed ICC management to explore alternative host countries in a similar time zone for the ICC Champions Trophy 2021,” it further said.
Meanwhile, the ICC also announced increased fund allocation for Afghanistan and Ireland, who had received Full Member status in June 2017.
“ICC Board agreed a revised financial model incorporating increased allocations for Ireland and Afghanistan as the newest Full Members of the ICC. The new model will see Ireland and Afghanistan each receiving a percentage of the projected surplus, amounting under current projections to approximately $40m each over the course of the current eight-year commercial rights cycle.”
First Published: Feb 10, 2018 15:34 IST