KARACHI: The government has proposed to tax income of Pakistan Cricket Board (PCB) derived from sources outside Pakistan at the rate of 4.0 percent.
According to Finance Bill 2016, PCB’s income derived from sources outside Pakistan including media rights, gate money, sponsorship fee, in-stadium rights, out-stadium rights, payments made by International Cricket Council (ICC), Asian Cricket Council (ACC) or any other cricket board is proposed to be taxed at 4.0 percent of the gross receipts from such sources.
PCB may also opt to pay tax on above basis for tax years 2010 to 2015, subject to the condition of withdrawing all the appeals and petitions pending before appellate forums on the issue of applicable tax rate; and payment of tax on above basis by June 30, 2016.