Stumping up for T20

CRICKET lovers have won the toss in the Budget with the government gifting a massive tax break to a subsidiary of the International Cricket Council to help it stage the ICC World Twenty20 in Australia in 2020.

The company will get a fiveyear income tax exemption.

It will also get an exemption from interest, dividend and royalty withholding tax liabilities for five years. The tax break won’t cost the government anything but the tax revenue would have been a tidy windfall.