A part from having one of the highest incidences of visible levies in the world, Indian telcos have a large hidden cost, which results in 58 per cent of their revenues becoming liable for government taxes, Vodafone Idea chief executive officer (CEO) Akshaya Moondra has said.
Arguing that the industry needs to quickly make massive capital investments for migration of technology, he said the burden on the sector must be reduced fast.
"We have 18 per cent goods and services tax (GST) and 12 per cent licence fees and spectrum use charges. This 30 per cent is very visible to everyone. What is not visible is the price of spectrum, if converted to an annuity value and calculated as a percentage of revenue. It adds another 28 per cent of industry revenue (as a cost)," Moondra said. He was speaking at the CEOs conclave during the sixth India Mobile Congress.
This story is from the October 04, 2022 edition of Business Standard.
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This story is from the October 04, 2022 edition of Business Standard.
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