Page 132 - SAMENA Trends - May-June 2022

REGULATORY & POLICY UPDATES SAMENA TRENDS

all interested parties, national and international, to participate on from Tuesday, 10 May thru 7 July 2022 via the EmergingTechnologies
the public consultations and submit their comments by June 24, Regulatory Sandboxpage on CITC website. Noting that the launch
2022. Noting that CITC and the Digital Content Council believe that of the Emerging Technologies Regulatory Sandbox is part of CITC’s
interested parties, investors and entrepreneurs play a valuable role mission upon delivering on its mandate, to provide a flexible and
on the process of drafting regulations. promoting a supportive regulatory environment that will enable
(May 25,2022) citc.gov.sa service providers to test and deliver innovative business models,
solutions and services that accelerate digital transformation and
The Communication and Information Technology Commission maximize the beneficial use of emerging technologies across
(CITC) is pleased to announce the launch of the Emerging sectors.
Technologies Regulatory Sandbox. The Application period starts (May 10,2022) citc.gov.sa

Sri Lanka

The government of Sri Lanka is implementing a wave of tax The Prime Minister and Minister of Finance Ranil Wickremesinghe
reforms including a rise in VAT from 8% to 12% and an increase has proposed an increase in value added tax (VAT) from 8 percent
in the Telecommunication Levy from 11.25% to 15%. In a to 12 percent and a hike in the telecommunication levy from 11.25
statement, the office of the Prime Minister and Minister of Finance, percent to 15 percent with immediate effect, the prime minister’s
Ranil Wickremesinghe, has directed the Telecommunications office said. “The VAT rate was reduced from 15 percent to 8
Regulatory Commission of Sri Lanka (TRCSL) to implement the percent with effect from December 1, 2019 and the threshold for
latter, with immediate effect. The Telecommunication Levy was registration of VAT was increased from Rs. 3 million per quarter
reduced from 15% to 11.25% effective from 1 December 2019 or Rs. 12 million per annum to Rs. 75 million per quarter or Rs.
which the government claims ‘led to a decrease in revenue by 28% 300 million per annum effective from January 1, 2020. Due to the
to LKR13.1 billion in 2020 from LKR18.3 billion in 2019. Hence, it is above reforms coupled with the impact of COVID-19, VAT revenue
proposed to increase the Telecommunication Levy from 11.25% to declined by 47 percent to Rs. 233.8 billion in 2020 from Rs. 443.9
15% with immediate effect.’ Wider income tax reforms have also billion in 2019,” the statement said. The telecommunication levy,
been proposed, along with changes to betting and gaming levies. meanwhile, was reduced from 15 percent to 11.25 percent effective
The PM’s statement noted that the low tax regime introduced in from December 01, 2019, which led to a decrease in revenue by 28
late 2019 following the election of President Gotabaya Rajapaksa, percent to 13.1 billion rupees in 2020 from 18.3 billion rupees in
but reportedly caused an annual loss of around LKR600 billion– 2019, the PM’s statement said, explaining the increase. Income tax
LKR800 billion in tax revenue to state coffers. reforms have also been proposed, along with changes to betting
(June 1, 2022) commsupdate.com and gaming levies.
(May 31, 2022) economynext.com

Syria

The Syrian Salvation Government (SSG) has issued a license to and full terms of the authorization were not disclosed. Syriana CEO
ISP Syriana LTE to provide mobile services. The Idlib-based SSG is Hussam Twelo was cited as saying that the company’s network
one of several alternative governments that have emerged in Syria would provide coverage of the city of Idlib and the surrounding
since the country descended into civil war in 2011 and controls area within the coming months, and that the operator would seek
a pocket of territory in the northwest of Syria on the border with to expand into areas controlled by the Syrian Interim Government,
Turkey. The concession was allocated to Syriana in late May based in Aleppo.
on legislation that had been passed in March 2019 but the cost (June 24, 2022) News Agency Enab Baladi

Turkey

A report from Bloomberg citing unnamed sources says that takeover of Turk Telekom (TT) early last month – is planning to
Turkey’s sovereign wealth fund – which completed its majority extend TT’s main operating license to boost the company’s value

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