MAROC_TELECOM_REGISTRATION_DOCUMENT_2017
4
FINANCIAL REPORT Consolidated financial statements at 31 December 2015, 2016 and 2017
NOTE 20 — TAXES, DUTIES, AND FEES
(in MAD million) Taxes and duties
2017
2016
2015
873
1,096 1,876 2,971
803
Fees
1,964 2,838
1,573 2,377
TOTAL
Royalties include amounts owed to telecom regulatory agencies in Morocco and internationally.
In 2017, total taxes, duties and fees fell by 4.5% versus 2016. Tax expense fell by MAD 223 million, mainly due to tax changes favoring Sub-Saharan subsidiaries.
NOTE 21 — OTHER OPERATING INCOME AND EXPENSES
(in MAD million) Communication Commissions Other including:
2017
2016
2015
822
809
815
1,845 3,517
1,745 2,931
1,628 2,879
Rental expenses
852
936 962 706 145
823
Maintenance, repair, and property-service charges
1,020
1,023
Fees
763 149 620 113
491 140
Postage and banking service Voluntary redundancy plan
4
Other
183
398
TOTAL
6,183
5,485
5,323
In 2017, other operating income and expenses increased by MAD 698 million. The changes mainly reflect: – increase in commissions, reflecting the revenue growth of subsidiaries;
– significant increase in voluntary redundancy plan expense; – slight decline in rental expenses and other operating expenses. The “Other” item primarily includes foreign exchange gains and losses on operations, transfers of operating expenses, and gains or losses on disposals of fixed assets.
NOTE 22 — DEPRECIATION, IMPAIRMENT AND PROVISIONS
The following table sets out changes in this item for the fiscalbyears ended 31bDecemberb2015, 2016, and 2017:
(in MAD million)
2017
2016
2015
Depreciation and impairment of fixed assets
6,610
6,489
6,403
Net provisions and impairment
54
355
400
TOTAL
6,557
6,845
6,804
Net allocations to depreciation, impairment and provisions amounted to MAD 6,557 million at December end 2017, versus MAD 6,845 million at December end 2016. This change mainly reflects the reversal of provisions for the voluntary redundancy plan.
154
MAROC TELECOM ____ 2017 Registration Document
Made with FlippingBook HTML5