PSL franchises receive tax relief from government

PCB Chairman Ehsan Mani was successful in convincing the authorities

PSL franchises receive tax relief from government PHOTO: PCB

The Pakistan Super League (PSL) franchises have been granted tax relief by the government — which pertains to withholding tax.

According a report obtained by Daily Express, franchises would not have to pay the 10 per cent withholding tax, this year.

However, the authorities refused to give relief on 16 per cent sales tax.

Franchises had suffered major financial loses in first three editions of the league. Due to this reason, they were trying to get tax exemptions from the government and the Pakistan Cricket Board (PCB) was fully assisting them in this specific matter.

Recently, they formed a two-member committee featuring Peshawar Zalmi owner Javed Afridi and Karachi Kings owner Salman Iqbal — who met some senior government officials, in this regard.

However, the breakthrough was made when PCB Chairman Ehsan Mani and franchises representatives had a meeting with Revenue Minister Hammad Azhar.

Sources said that Mani has convinced the government to give relaxation in taxes although the amount will be adjusted in this year's withholding tax.