ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has approved income tax exemptions for the International Cricket Council (ICC) in connection with the ICC Champions Trophy 2025.
The ECC met here on Thursday under the chairmanship of Minister for Finance and Revenue Muhammad Aurangzeb at the Finance Division. The committee deliberated on important economic matters and approved key decisions.
The ECC deliberated on the summary of the Revenue Division regarding exemptions to the ICC. These exemptions align with international best practices for hosting global sports events. Under the standardised hosting rights agreement between the ICC and Pakistan, no taxes or deductions would be applied to ICC revenues, its subsidiaries, associates, officials, and non-resident delegates. However, the Pakistan Cricket Board (PCB), would remain subject to income tax on their earnings from the tournament. There will be no exemptions from Sales Tax and Federal Excise Duty. The tax exemption is not expected to result in a revenue loss, as it was a prerequisite for securing the tournament’s hosting rights.
The committee also discussed the summary of the Ministry of National Food Security & Research regarding the lifting of the ban on the commercial export of sheep and goats to Kuwait but deferred the agenda for further clarification and due diligence. A Technical Supplementary Grant (TSG) of Rs6.859 billion was approved in favour of the Ministry of Energy (Power Division) for development expenditures in the current financial year (2024-25). Based on the summary of the Petroleum Division, the ECC also approved the extension of the LNG Framework Agreement between Pakistan LNG Limited and SOCAR Trading for another three years.
