Pakistan exempts income tax for ICC and foreign players in Champions Trophy
ISLAMABAD: (Web Desk) Pakistan has exempted income tax on earnings from the International Cricket Council (ICC) and the foreign players playing in the Champions Trophy.
International Monetary Fund (IMF) also endorsed this move of exemption.
In the line with the agreement made with International Cricket Council, the federal cabinet’s Economic Coordination Committee (ECC) gave the approval of this policy.
Under the policy, government will collect any income tax on income derived by ICC Business Corporation (IBC) or International Cricket Council (ICC) or employees, officials, agents and representatives of IBC and ICC.
The decision states that the income of the ICC officials, players, coaches, medical doctors and officials of member countries, IBC partners and media representatives will also be exempted from the tax.
It is important to note that the exemption will take into effect through a statutory regulatory order.
According to details, an amendment will be made in the Income Tax Ordinance to exempt the income of the ICC and foreign players.
The ICC Champions trophy matches kicked off on February 19 and the final is scheduled for March 9. In the opening match, New Zealand beat Pakistan by 60 runs in National Bank Stadium, Karachi.
