The Economic Coordination Committee (ECC), led by Finance Minister Muhammad Aurangzeb, has approved several critical economic decisions, including tax exemptions for the International Cricket Council (ICC) concerning the ICC Champions Trophy 2025. One of the key decisions made in the meeting was the approval of a tax exemption for the ICC on its income related to the upcoming ICC Champions Trophy 2025. This exemption is in line with international practices for hosting global sports events, and no tax or deductions will be imposed on the ICC’s income, subsidiaries, and affiliated entities as per the agreement between ICC and Pakistan. However, the ECC clarified that Pakistani citizens, including the Pakistan Cricket Board (PCB), will be required to pay taxes on income derived from the tournament. No exemptions will be granted on sales tax or federal excise duties. Additionally, the committee deferred a decision on the matter of lifting the ban on the commercial export of goats and sheep to Kuwait. The ECC also approved a supplementary technical grant of Rs6.859 billion for the Ministry of Energy to cover developmental expenses. Furthermore, the committee approved the extension of the LNG framework agreement between Pakistan LNG Limited and Sukar Trading for a period of three years.
from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/JODRVI9
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