Thursday, 17 Oct 2019
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ECONOMY

Private sector makes up majority of Vietnam’s top 1,000 tax payers

Updated at Thursday, 10 Oct 2019, 17:26
The Hanoitimes - Total corporate tax paid by these enterprises in the list accounted for 60.3% of the total revenue from corporate tax, and increased by 8.3% against those in the list of 2017.
Most companies in the list of Vietnam’s top 1,000 biggest tax payers in 2018 are from the private sector, contributing 66.4% of total amount of corporate tax, according to the General Department of Taxation. 
 
Illustrative photo.
Illustrative photo.
State-owned enterprises (SOEs) make up the rest of 24.6%, according to the list of top 1,000 Vietnam’s biggest tax payers in 2018 unveiled by the tax authority. 

According to the department, total corporate tax paid by these enterprises in the list accounted for 60.3% of the total revenue from corporate tax, and increased by 8.3% against those in the list of 2017. 

Most of headquarters of 1,000 enterprises in the list are concentrated in major cities/provinces such as Ho Chi Minh City, Hanoi, Binh Duong and Dong Nai. 

Upon breaking down, those in Ho Chi Minh City contributed 34.1% of revenue from corporates in the list, while the ratio of Hanoi was 34.7%, Binh Duong with 3.9% and Dong Nai with 4.9%. 

Military-run telecom company Viettel claimed the top spot of the list, followed by Honda Vietnam. 

State-run PetroVietnam Gas (PetroGas) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) ranked third and fourth, respectively. 

The remaining companies in the top 10 were Samsung Electronics Vietnam (5th), Airports Corporation Vietnam (ACV) (6th), Technological and Commercial Joint Stock Bank (Techcombank) (7th), Vietnam Dairy Products (Vinamilk) (8th), Heineken (9th) and Bank for Investment and Development of Vietnam (BIDV) (10th). 

In terms of sector, the number of companies operating in manufacturing and processing accounted for 33.37% of the list; followed by finance, banking and insurance (18.78%) and real estate  (10.74%). 
Hai Yen
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