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Players to be taxed at 15 per cent for IPL in SA
The earnings of the players who took part in the IPL2 in April-May this year would be taxed at 15 per cent by the South African Revenue Service.
Mumbai:
The earnings of the players who took part in the Indian Premier League's second edition in April-May this year would be taxed at 15 per cent by the South African Revenue Service, the BCCI said.
"The BCCI/IPL had discussions with the South African Revenue Service (SARS) before the commencement of IPL-2009 and it was resolved that income earned by BCCI-IPL will not be taxed. However, the income of players would be taxed at 15 per cent," Board treasurer M P Pandove stated in his annual report for 2008-09.
The BCCI has paid its 37 contracted players Rs. 81 crore in 2008-09 as their gross revenue share, Pandove said. The contracted players are divided into four groups with Grade A players getting Rs. 60 lakh each per annum, Grade B Rs. 40 lakh, Grade C Rs. 25 lakh and Grade D Rs. 15 lakh.
The Board has made a surplus of Rs. 54 crore as compared to the budgeted surplus of Rs. 233 crore for 2008-09, Pandove said.
The BCCI treasurer said the period saw the Board's income and profit dwindle in the aftermath of the 26/11 terror attacks in Mumbai leading to a Rs. 110 crore curtailment in its revenue.
"The BCCI/IPL had discussions with the South African Revenue Service (SARS) before the commencement of IPL-2009 and it was resolved that income earned by BCCI-IPL will not be taxed. However, the income of players would be taxed at 15 per cent," Board treasurer M P Pandove stated in his annual report for 2008-09.
The BCCI has paid its 37 contracted players Rs. 81 crore in 2008-09 as their gross revenue share, Pandove said. The contracted players are divided into four groups with Grade A players getting Rs. 60 lakh each per annum, Grade B Rs. 40 lakh, Grade C Rs. 25 lakh and Grade D Rs. 15 lakh.
The Board has made a surplus of Rs. 54 crore as compared to the budgeted surplus of Rs. 233 crore for 2008-09, Pandove said.
The BCCI treasurer said the period saw the Board's income and profit dwindle in the aftermath of the 26/11 terror attacks in Mumbai leading to a Rs. 110 crore curtailment in its revenue.
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