Telcos seek tax credit refund, reduction in levies ahead of Budget 2023

The telecom industry plans to negotiate with the government on levies including license fees and charges to the Universal Service Obligation Fund (USOF) as part of their recommendations for the upcoming 2023-2024 budget, reported The Economic Times. The license fee currently is 8 per cent of adjusted gross revenue (AGR) where 5 per cent of it is contributed to USOF. The sector is also seeking a tax-credit refund of Rs 32,000 crore, according to ET.