Econet bemoans high telecoms taxes

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DIVERSIFIED telecommunications group, Econet Wireless Zimbabwe (Econet) says the high taxes levied on the telecoms sector continue to pile pressure on the group’s margins, curtailing network expansion projects.
In a statement accompanying financial results for the year ended February 28, 2022, Econet chairman James Myers said the industry is currently subject to 10 percent excise duties on revenue. This is over and above the 14,5 percent Value Added Tax as well as other regulatory levies and taxes of 3,5 percent, bringing the total taxes on each dollar of revenue to approximately 28 percent.

“During the period under review, the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) installed a system on our sites which, according to the TTMS regulations (SI 95 of 2021), is aimed at combating network fraud and addressing billing integrity issues.