Latest news with #MRA
Time of India
29 minutes ago
- Business
- Time of India
ISL's future up in the air over MRA deadlock
The ISL kicked off on Oct 12, 2014 and was recognised as India's top tier domestic league by FIFA and AFC in 2019. Mohun Bagan Super Giant won a double of Shield and Trophy in 2024-25, a feat previously only achieved by Mumbai City Panaji: There is growing suspense over the future of the Indian Super League (ISL) after several clubs were told by organisers of Indian football's top-tier league that the next edition will not kick off unless there's clarity on the Master Rights Agreement (MRA). Football Sports Development Limited (FSDL), a joint venture between Reliance and Star which runs the league, are commercial partners of the All India Football Federation (AIFF), with whom they signed a 15-year MRA in 2010. According to the agreement, FSDL pays AIFF an annual fee of Rs 50 crore or 20% of the total revenue, whichever is more. The agreement ends in December this year. 'Since last week, senior FSDL officials have met club owners individually and they have been told that ISL won't kick off, unless the future of the MRA is clear,' a source told TOI on Wednesday. 'Everyone knows that the MRA cannot be finalised overnight. Moreover, with Supreme Court expected to finalise the new (AIFF) Constitution, everyone is on tenterhooks.' Since the meetings in Mumbai, clubs have gone slow with their operations and are now re-drawing strategies. While most clubs have kept major player signings for the next season on hold, others are delaying start of their pre-season training, unsure whether the league will kick off on Sept 14, as noted in AIFF's tentative calendar for the 2025-26 season. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Should clubs, as expected, push forward their pre-season training, participation in the Durand Cup could be hampered. At least two clubs have verbally told the organisers that it might be difficult for them to participate in Asia's oldest football tournament, which will be played across five states between July 23 and August 23. According to sources, FSDL is keen to continue its association with Indian football, but unlike the previous cash deal, they have now suggested formation of a new holding company that governs and operates the ISL, with participating clubs (60%), FSDL (26%) and AIFF (14%) as the shareholders. 'FSDL reached out to AIFF early this year and had set timelines, according to which the signing of the term sheet was to be completed by April 30,' said the source. In April, the AIFF instead formed an eight-member task force to look into the MRA negotiations with its commercial partner, a move that did not find favour with some members. Former India captain Bhaichung Bhutia even told the executive committee to wait till the Supreme Court finalises the new constitution. The Supreme Court later asked AIFF not to take any decision on the renewal of the MRA until the final order, which is expected after the Full Court working days resume from July 14. 'The draft constitution of the AIFF states that India's top league should be managed by the AIFF. The draft also states that the seniormost league should be owned, operated and directly managed by AIFF. Its roles cannot be assigned to any other entity or organisation,' said the official. One club official described the situation as grim. A couple of others though said FSDL could eventually seek a six-month extension and complete the season, providing stakeholders with enough time to prepare for future challenges. 'Everything will depend on the Supreme Court order,' said a club CEO. 'Once the AIFF Constitution is finalised, we have to check the status of the top-tier league. There is also a possibility of elections happening in the next few months, so a lot can change. As clubs, an important stakeholder, it's important that we get at least a year to handle the unexpected changes.' The ISL kicked off on Oct 12, 2014 and was recognised as India's top tier domestic league by FIFA and AFC in 2019.
New York Post
2 days ago
- Politics
- New York Post
GOP rep calls for ‘around-the-clock' security for congressional lawmakers using public funds after Minnesota shootings
Rep. Tim Burchett (R-Tenn.) expressed deep concern Monday over 'growing threats' to congressional lawmakers in a letter asking for clarification over whether members can use their taxpayer-funded allowances to pay for personal security. Burchett's letter to the top Republican and Democrat on the House Committee on Administration – the panel which oversees the use of Members' Representational Allowances (MRAs) – comes days after a Minnesota state lawmaker and her husband were gunned down by an assassin targeting politicians. 'We are deeply concerned about growing threats to the safety of elected officials and request the Committee on House Administration to clarify that Members' Representational Allowances (MRAs) may be used for around-the-clock security services,' Burchett wrote in his letter, obtained by The Post. 3 Burchett asked whether taxpayer-provided funds can be used to pay for 24/7 security for congressional reps. AP The average MRA provided to House lawmakers last year was about $1.9 million per representative – money provided to support 'official conduct and representational duties.' The Tennessee Republican notes that under congressional rules, it appears lawmakers are only allowed to use MRA money on security expenses 'when those services are provided at official, member-hosted district events, during the performance of official duties, or at district offices during business hours.' Burchett called the current interpretation of the rules for MRAs 'inadequate' in light of the Saturday shootings targeting former Minnesota House Speaker Melissa Hortman and state Sen. John Hoffman, along with their spouses, and the 2017 assassination attempt against Senate Majority Leader Steve Scalise (R-La.) at a Congressional Baseball practice. 'Had these lawmakers served in Congress, they would not have been allowed to use MRA funds for personal protection, despite being targeted,' Burchett said of the shooting that killed Hortman and her husband, Mark, and the separate assassination attempt against Hoffman, which left him and his wife badly wounded. 3 Burchett noted that the slain Minnesota state lawmaker could not have used MRA money, had she been in Congress, to secure her home. Getty Images 'The reality is, Members of Congress are publicly identifiable at all times,' Burchett continued. 'Our addresses are posted online and the threats are constant.' 'While we are grateful for the efforts of local law enforcement, the unique risks associated with serving in Congress require security beyond what is currently available.' The congressman called on the House panel to take 'all necessary steps to expand the permissible use of Members' Representational Allowances to include personal security, excluding campaign-related activity.' 3 The killing of Melissa Hortman and the serious wounding of another Minnesota state lawmaker sent shockwaves through Congress. Steven Garcia 'Protecting elected officials from political violence is critical for effective representation and a functioning government,' Burchett argued. The 'manifesto' of suspected Minnesota political assassin Vance Boelter contained the names of as many as 70 people — largely lawmakers and abortion advocates — he may have sought to target, according to authorities. The chilling list reportedly included Sens. Amy Klobuchar (D-Minn.) and Tina Smith (D-Minn.) and Reps. Ilhan Omar (D-Minn.) and Kelly Morrison (D-Minn.). Boelter, 57, was captured in a rural area outside Minneapolis Sunday night.
The Sun
2 days ago
- Business
- The Sun
Malaysia Retailers Association seeks SST waiver on commercial rentals to protect businesses, consumers
PETALING JAYA: The Malaysia Retailers Association (MRA) has urged the Ministry of Finance (Mof) to waive the planned 8% Sales and Service Tax (SST) on commercial rental and leasing services, scheduled to take effect on July 1. Retail businesses across the country are already under immense pressure from a succession of cost increases, including but not limited to the minimum wage increase to RM1,700; electricity tariff hikes; stamp duty on employment contracts; fuel subsidy rationalisation; the SST rate hike from 6% to 8%; and the 10% sales tax on low-value imported goods, MRA said in a statement, adding that these are just a few examples of rising fixed operational costs. 'The full scope of burdens faced by retail businesses is much broader, but even these alone are already impacting business sustainability and bottom lines,' it added. MRA said the additional 8% SST on commercial rentals – introduced without any consultation or engagement with the retail sector – adds further pressure. 'Rental is among the largest fixed costs for many businesses and this tax will push operating expenses even higher. It is unrealistic to expect retail businesses to absorb the full impact and many may have no choice but to pass these costs on to consumers – contributing to inflation and intensifying the rakyat's cost-of-living burden,' the association said. Compounding these challenges, it said, is the growing uncertainty in the global economy, especially in light of the recent escalation in geopolitical tensions between Iran and Israel. This conflict has already begun affecting regional confidence, global commodity prices, and trade flows – making it an especially inappropriate time to introduce new tax burdens. In light of these concerns, MRA strongly urged that a complete waiver of SST on commercial rental and leasing services or at minimum, defer implementation sine die, until macroeconomic and geopolitical conditions stabilise. If implemented, the association urged that the SST should be shared fairly between landlords and tenants, rather than passed entirely to retail businesses. It also urged that service charges and shared area fees should be excluded from the SST scope; the SST exemption threshold should be raised to RM2 million in annual sales to safeguard small and independent retail businesses; defer the SST on rentals until after Visit Malaysia Year 2026 to preserve industry stability and support tourism-linked growth and introduce the SST gradually, starting at 3% and increasing progressively to 8% over five years. MRA said that retail businesses play a vital role in domestic economic growth and employment and thus it is critical that policies impacting this sector are implemented with transparency, fairness and proper stakeholder engagement. MRA said it welcomes further discussion with MoF to find a balanced and sustainable approach that supports both businesses and consumers.
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Retailers group calls for waiver of 8% tax for rental, leasing services
The Malaysian Retailers Association suggested that if implemented, the 8% service tax should be shared fairly between landlords and tenants. PETALING JAYA : The Malaysian Retailers Association (MRA) has urged the government to allow a complete waiver of the planned 8% service tax on commercial rental and leasing services. MRA said in a statement that the 8% tax on commercial rentals added further pressure on its members, who were already facing a rise in fixed operating costs. 'Rental is among the largest fixed costs for many businesses and this tax will push operating expenses even higher,' it said. MRA also said it was unrealistic to expect retail businesses to absorb the full impact of the 8% tax, and that many might have no choice but to pass these costs on to consumers. It said that retail businesses nationwide were already under immense pressure from a succession of cost increases, including the minimum wage hike to RM1,700, electricity tariff hikes, and the 10% sales tax on low-value imported goods. 'The full scope of burdens faced by retail businesses is much broader, but these alone are already impacting business sustainability and bottom lines,' the association added. MRA said that if the waiver for commercial rentals could not be granted, the government should defer the implementation of the tax until macroeconomic and geopolitical conditions stabilise. It also suggested that if implemented, the 8% service tax should be shared fairly between landlords and tenants, rather than passed entirely to retail businesses. It proposed that service charges and shared area fees be excluded from the tax scope, and that the exemption threshold be raised to RM2 million in annual sales to safeguard small and independent businesses. The 8% service tax on rental and leasing services, expected to be enforced from July 1, applies to all service providers whose rental or lease income exceeds RM500,000. Lessees that are micro, small and medium enterprises with annual sales under RM500,000 are exempted. MRA suggested introducing the service tax for rental and leasing services gradually, starting at 3% and progressively increasing the rate to 8% over five years. It also proposed that Putrajaya defer the 8% tax on rentals until after Visit Malaysia Year 2026 to preserve industry stability and support tourism-linked growth. 'MRA welcomes further discussion with the finance ministry to find a balanced and sustainable approach that supports both businesses and consumers,' it said.
New Straits Times
3 days ago
- Business
- New Straits Times
Retailers urge government to scrap SST on commercial rentals
KUALA LUMPUR: The Malaysia Retailers Association (MRA) has urged the Finance Ministry to revoke the planned eight per cent Sales and Service Tax (SST) on commercial rental and leasing services. Its president Datuk Andrew Lim Tatt Keong said the additional levy could strain business sustainability and fuel consumer price increases. He said retailers are already grappling with a raft of cost pressures, including the minimum wage hike to RM1,700, rising electricity tariffs, stamp duties on employment contracts, fuel subsidy rationalisation, and the earlier SST rate increase from six to eight per cent. "These are just a few examples of rising fixed operational costs. Even these alone are already impacting business sustainability and bottom lines," he said in a statement today. Lim added that the retail sector was not consulted prior to the decision to impose SST on commercial rentals, despite rental being among the largest fixed costs for many businesses. "It is unrealistic to expect retail businesses to absorb the full impact, and many may have no choice but to pass these costs on to consumers, contributing to inflation and intensifying the rakyat's cost-of-living burden," he said. He also pointed to growing global uncertainties, particularly the recent conflict escalation between Iran and Israel, as further reason to reconsider the timing of the tax. In response, the MRA proposed several measures. These include a complete waiver of the SST on commercial rentals or, at the very least, a deferral until both global and domestic conditions are more stable. The association also called for the tax to be fairly shared between landlords and tenants, rather than borne entirely by retailers. It urged that service charges and shared area fees be excluded from the tax scope and that the SST exemption threshold be raised to RM2 million in annual sales to protect small and independent retailers. Additionally, the MRA suggested delaying implementation until after Visit Malaysia Year 2026 and introducing the tax gradually, starting at three per cent and increasing progressively to eight per cent over five years. Lim said the retail sector plays a vital role in driving domestic economic growth and employment, and stressed that policies affecting the sector must be implemented with transparency, fairness and proper stakeholder engagement. He added the MRA is open to further discussions with the Finance Ministry to find a balanced and sustainable approach that supports both businesses and consumers.
