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New business fee targets start-up telcom firms
Enterprises that are granted business licences for the telecommunications sector will be required to pay a new fee based on company size and revenues.
Government Decree 25/2011/ND-CP on guiding the Law on Telecommunications issued on April 6 states that enterprises that are licensed to set up public telecom networks must pay the new fee, which will be based on the type of business, its revenue and the size of its telecoms networks and value of their infrastructure.
According to the Ministry of Information and Communications (MIC), a draft of fee levels, which are based on experiences in other countries, will be released soon.
Several countries in the region such as Singapore and Malaysia are collecting fees calculated at 0.5 per cent to 1 per cent of a company's annual revenue.
The new fee aims to limit companies that win business licences but then delay operations.
The decree also requires telecoms companies that set up a fixed nation-wide landline networks or mobile phone networks to deposit VND1trillion (US$48.3 million) and VND2.5 trillion ($119 million) for the first three years of business, respectively.
The deposits will be held in an account assigned by the MIC to pay for fines in case companies violate regulations.
The decree also forbids a venture that owns 20 per cent or more of any telecoms company's charter capital or shares to own a stake of 20 per cent or more in another company that provides the same type of telecoms service.
As a result, Viet Nam Posts and Telecommunications Group will have to review its share of capital at VinaPhone and MobiFone. The group will be forced to lower its capital in the two companies, according to the decree.
vietnamnews
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