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Telecoms expected to bring in $500mn in revenue


June 2, 2008

Telecoms expected to bring in $500mn in revenue

With a rising number of mobile phone and Internet users, Cambodia is gearing up income collection measures to help the government reap hundreds of millions of dollars from the telecoms sector in the near future, local media reported Monday.

"If we manage the sector well and take VAT (Value Add Tax), the government could one day earn $400 million to $500 million annually," So Khun, posts and telecommunication minister, was quoted as saying in the Mekong Times newspaper.

He added that the government is currently streamlining its taxation process to build on current annual revenues, which he hopes will reach $70-80 million this year.

Cambodia currently has around 2.5 million mobile phone and over 37,500 landline and internet users, though telecommunications revenues in recent years have sagged to $31-36 million.

The figures are low due to poor income collection, said analysts, who argue that in 1995 revenues were greater at $46 million.

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