The BCCI could lose around Rs 955 crore if the central government sticks to its decision to levy 21.84 percent tax surcharge on ICC’s broadcast revenue from the 2023 ODI World Cup, according to a Board report. India is to host next year’s 50-over showpiece in October-November.
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Tax surcharge refers to “an additional charge, fee, or tax that is added to the cost of a good or service beyond the initially quoted price”. A surcharge is often added to an existing tax and is not included in the stated price of the good or service. As per ICC norms, the host nation is required to get tax exemption from the government for hosting tournaments organised by the global body.
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