Economic coordination committee grants income tax exemption for ICC Champions Trophy

A meeting of the ECC, chaired by Finance Minister Muhammad Aurangzeb, was held on Thursday, during which several key economic decisions were approved

PHOTO: PCB

The Economic Coordination Committee (ECC) has approved an income tax exemption related to the ICC Champions Trophy.

A meeting of the ECC, chaired by Finance Minister Muhammad Aurangzeb, was held on Thursday, during which several key economic decisions were approved.

According to an official statement, the committee granted an exemption on necessary income tax related to the ICC Champions Trophy. The exemption is part of agreements between the International Cricket Council (ICC) and Pakistan. However, the statement clarified that the exemption would not impact tax revenues.

As per the announcement, both the ICC and the Pakistan Cricket Board (PCB) will be granted income tax exemptions, and the waiver will apply to tournament-related earnings and prize money.

The statement further specified that while income tax exemptions have been approved, there will be no waiver on sales tax or federal excise duty for the ICC Champions Trophy.