News From Telecom World

Q1 sales taxes from telecom sector drop significantly (Bangladesh)

Posted on: October 15, 2008

The government’s collection of sales taxes from the telecom sector dropped significantly in the first quarter of the current fiscal reflecting a downward trend in growth of the sector.

There are a total of six cell phone companies operating in the country. Four of them paid less taxes in the July-September period than the amount paid in the corresponding period of last fiscal. They are Grameenphone, Aktel, Warid and Teletalk.

In the last fiscal, four cell phone companies, namely Grameenphone, Banglalink, Aktel and Citycell, were among the top ten VAT payers from among the private enterprises.

The country’s largest cell phone company Grameenphone paid Tk 2.77 billion (277 crore) in the first quarter of the current fiscal against Tk 2.82 billion paid in the corresponding period of last fiscal.

However, the cell phone operator paid a total of Tk 14.56 billion in Vat in the fiscal 2007-08, the second highest amount after that of the British American Tobacco Bangladesh (BATB).

Aktel, owned by the Telekom Malaysia and Bangladesh’s AK Khan Group, paid Tk 610 million in the first three months of the current fiscal, just Tk 50 million less than the amount paid in the corresponding period of last fiscal.

Payment of sales tax by Warid Telecom declined to Tk 490 million from Tk 720 million and that of Teletalk fell to Tk 30 million.

On the other hand, Orascom operating the Banglalink service and the Pacific Bangladesh Telecom (Citycell) paid higher revenues.

Banglalink paid Tk 1.23 billion in the first quarter, up by Tk 30 million from that of the corresponding period of last fiscal.

Banglalink was the fourth largest VAT payer with Tk 6.0 billion in the last fiscal, recording a remarkable growth of over 139 per cent.

Citycell paid Tk 160 million in the first quarter, up by Tk 10 million from that of the corresponding period of last fiscal.

Source: Financial Express

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