Players to be taxed at 15 per cent for IPL in SA

Updated: 24 September 2009 13:06 IST

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.

Players to be taxed at 15 per cent for IPL in SA
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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.

Topics : Cricket Sreesanth
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