PSL franchises concerned over new taxes

The Pakistan Super League (PSL) owners are concerned over the introduction of a new 15 per cent Tax as the franchises are already incurring losses.

Last year, franchises were granted tax relief by the government — which pertained to 10 per cent withholding tax. It remains to be seen whether this new tax will be applicable on them or not.

There is no governing council meeting scheduled for the foreseeable future, hence the team owners are currently deliberating over it among themselves and are contemplating forwarding their reservations on it to the Pakistan Cricket Board (PCB).

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Meanwhile, there is growing uncertainty around the now-suspended fifth edition of PSL but the PCB is keen to stage the playoffs later this year in November or December.

PSL 5 was postponed indefinitely just before the playoffs, due to the ongoing novel coronavirus pandemic (Covid-19).

According to the PSL agreement, all the players and officials were paid 70 per cent of their salaries before the start of the season. Rest of the payment was supposed to be done 60 days after the tournament.

According to sources, the board will pay the remaining amount to the players of Quetta Gladiators and Islamabad United. Both teams failed to qualify for the playoffs. However, other teams will be paid the amount for the matches they played and final settlement of payment will only be done after the end of the playoffs.