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Croatia's mobile services fee is abolished.

M2 EQUITYBITES-July 6, 2012-Croatia's mobile services fee is abolished(C)2012 M2 COMMUNICATIONS

Croatian telecoms operator T-Hrvatski Telekom (T-HT) (LSE:THTC) reported today that the 6% fee on mobile networks services in Croatia has been terminated with effect from 1 July 2012.

The Croatian Parliament has approved the Government's proposal to abolish the 6% fee on revenues generated by mobile services, including SMS, MMS and voice, to be payable by the operator.

This fee was originally introduced on 1 August 2009 as a crisis measure and was initially abolished with effect from 1 January 2012. It was subsequently reinstated by the newly elected Government with effect from 26 January 2012 and had been expected to remain in force until 30 June 2013, when Croatia is scheduled to accede to European Union.

T-HT said that the impact of the 6% tax was HRK145m in 2011 and HRK163m in 2010. In this year's first quarter the impact amounted to HRK21m, against HRK34m in the same period last year.

Shares in T-HT are traded on the Zagreb Stock Exchange, with global depositary receipts trading on the London Stock Exchange.


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Publication:M2 EquityBites (EQB)
Geographic Code:4EXCR
Date:Jul 6, 2012
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