- There are no taxes on CPI income, subsidiaries or non -resident delegates.
- Exemptions do not cover federal special sales or taxes, says ECC.
- He says that the exemption was a previous requirement to acquire the rights of accommodation of the event.
Islamabad: The Cabinet Economic Coordination Committee (ECC) on Thursday approved income tax exemptions for the International Cricket Council (ICC) in relation to the CPI 2025 champion trophy.
The committee deliberated on the summary of the income division. These exemptions are aligned with international best practices to organize global sporting events, said a statement issued here.
The Economic Coordination Committee (ECC) of the Cabinet met today under the presidency of the Minister of Finance and Income, Senator Muhammad Aurengzeb, in the Finance Division, Islamabad.
The meeting attended the Minister of Petroleum, Musadik Masood Malik; the Minister of Industries and Production, Rana Tanveer Hussain; the president of the FBR; the president of the SECP; Federal secretaries; and senior officials of ministries and interested divisions.
According to the standardized accommodation rights agreement between the ICC and Pakistan, taxes or deductions to the income of the ICC, its subsidiaries, associates, officials and non -resident delegates will not apply. However, Pakistani residents, including the Pakistan Cricket Board (PCB), will remain subject to income tax on their tournament earnings. There will be no exemptions from sales tax and the Federal Special Tax (FED).
Tax exemption is not expected to result in a loss of income, since it was a prerequisite to ensure tournament housing rights.
The committee deliberated on important economic matters and the key decisions approved.
The Committee also discussed the summary of the Ministry of Security and National Research on Food on the lifting of the prohibition of the commercial export of sheep and goats to Kuwait, but deferred the agenda to obtain more clarifications and due diligence.
A technical complementary subsidy (TSG) of RS. 6,859 billion were approved in favor of the Ministry of Energy (Energy Division) for development expenses in the current financial year (2024-25).
Based on the summary of the oil division, the ECC also approved the extension of the GNL framework agreement between Pakistan Lng Limited (PLL) and Socar Trading for another three years. Initially signed in 2023, the agreement allows PLL to acquire a LNG load per month when necessary, without any financial obligation or commitments to carry or pay.
The extension is aligned with the Pakistan strategy for the flexible acquisition of LNG based on seasonal demand, ensuring profitable energy solutions.
