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FBR issues tax notice to PCB

LAHORE: Federal Board of Revenue (FBR), after Pakistan player, has turned to the parent body and issued notice to Pakistan Cricket Board. (PCB).

A week earlier, Pakistan Super League (PSL) Chairman Najam Sethi had revealed that PCB reaped a profit of $26,00,00 from first edition of premier league.

Responding to the announcement, FBR has sent a notice to PCB demanded submission of tax over earning from PSL.

According to a daily, FBR has asked PCB to pay 7 lac dollars (Rs. 700,000,000) of tax as per 34 % of total revenue.

The revenue board has urged PCB to pay due taxes or else its assets will be sealed.

On the other hand, Najam Sethi is making efforts to make PSL ‘tax free’ league, in order to attract more and more investment to it.