World Cup 2023: BCCI likely to lose $56-116M if denied tax exemption

England are defending World Cup champions (Source: Twitter)

After back-to-back T20 World Cups, the prestigious 50-overs World Cup will be played in 2023. The ICC World Cup 2023 will be hosted by India, who will be organizing the event after 12 long years, and much like the 2011 event, the Board of Control for Cricket in India is faced with a similar obstacle.

According to a report in ESPNcricinfo, the BCCI could potentially lose $56 to 116M for the World Cup 2023 due to taxes imposed by the Indian government. The International Cricket Council (ICC) shares money with the organisers from its central revenue pool.

BCCI said in their email to state associations:

​"It is to be noted that any tax cost incurred by the ICC for the 2023 event in India will be adjusted with the BCCI's share of revenue from the ICC." 

​This is the first time since the 2016 ICC T20 World Cup that India is hosting such a big event. The BCCI had earlier signed a tax exemption contract with the ICC and was 'obligated' to intervene and help out in obtaining a tax waiver.

The BCCI, however, are hopeful of finding a solution and are in talks with the Ministry of Finance/Government of India to make changes to their tax orders.

​Also Read: You cannot play and remain in administration forever: Ganguly