While there have been numerous business honor rolls, none have reflected businesses’ total tax contributions until now. This is an important factor in recognizing businesses’ societal impact. With the aim of acknowledging the private sector’s crucial role in the economy, CafeF unveiled PRIVATE 100 – a list of the top 100 private enterprises with the highest tax contributions in Vietnam on August 15, 2024.
PRIVATE 100 comprises a comprehensive list of private enterprises with tax contributions exceeding 100 billion VND, including the top 100 leaders and sector-specific lists for industries such as Banking, Securities, Food & Beverage, Real Estate, Retail, and leading conglomerates.
Going beyond recognizing the contributions of the private sector, CafeF is now crafting VNTAX 200 – a list of Vietnam’s top 200 tax-contributing enterprises. Unlike PRIVATE 100, VNTAX 200 will encompass all enterprise forms, including state-owned, private, foreign-invested, and joint-venture businesses.
OVER 100 ENTERPRISES CONTRIBUTE MORE THAN 1,000 BILLION VND
VNTAX 200 sets a higher bar, with a minimum tax contribution of 200 billion VND required for inclusion in the main list and sector-specific lists. The 2024 list is based on actual tax payments made during the fiscal year (12 months) ending between June 30, 2023, and March 31, 2024.
The VNTAX 200 list is currently being finalized. Enterprises meeting the criteria are invited to submit their data for inclusion.
While PRIVATE 100 had only over 30 enterprises contributing more than 1,000 billion VND, VNTAX 200 already features 104 enterprises, including at least 14 companies contributing over 10,000 billion VND, according to the currently compiled list.
TOP 20 BANKS CONTRIBUTE 80.2 TRILLION VND IN TAXES
As vital economic drivers, private banks are making increasingly significant contributions to state revenues. For the banking sector, the primary taxes paid include corporate income tax, VAT, and personal income tax.
Consolidated data from the audited financial statements of these banks reveals that in 2023, the top 20 tax-contributing banks collectively contributed 80.2 trillion VND. The top three banks were Vietcombank (11.6 trillion VND), Techcombank (7.9 trillion VND), and MB (7.5 trillion VND).
All five banks with significant state influence, including the Big 4 and MB, ranked within the top 10. HSBC represented the foreign bank contingent.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
