BCCI in a fix after government issues 21 per cent tax for World Cup 2023

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India is just 15 months away from witnessing the ICC Men’s World Cup.

But, the BCCI and its stakeholders are now in a grave fix as the Indian government has recently issued a 21 per cent tax on the World Cup.

This means that the income from the global event will be at an all-time high.

Usually, it is the host nation’s duty to bear the tax issue.

But, the BCCI has not cleared anything about this issue so far but has given only assurances that they are looking into the matter.

The World Cup 2023 will be held in India in the months of October and November.

Previously, when India hosted the ICC T20 World Cup in 2016, the tax withholding rate of the government was 10 per cent.

With the new rules and regulations in place, the BCCI’s budget could overflow the limit of $100 million.

The broadcasting fee of next year’s 50-over World Cup could be around $500 million.

Additionally, the 21 per cent tax levy could also make drastic changes to the ICC Media Rights that are currently on sale.

In other news, Star has managed to acquire the rights for broadcasting Australia’s matches from Cricket Australia.

CA did not come forward to give any clear statement on the topic.

But, it is widely held that Star will be broadcasting all India-Australia matches, the Ashes and the Big Bash League on its channels.

Currently, Sony holds the media rights for broadcasting Cricket Australia’s matches.

This agreement will be kicking off from next season of Australian cricket.

Meanwhile, Star is also trying to procure the ICC Media Rights.

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