While there have been numerous business honor rolls, none have reflected the total tax contributions of enterprises. This is one of the critical factors in assessing a company’s societal impact. To acknowledge the private sector’s importance, honor their contributions, and promote their spirit of service, CafeF introduced PRIVATE 100 in August 2024, recognizing the top 100 private enterprises with the highest tax contributions in Vietnam.
Building on this initiative, CafeF now presents VNTAX 200, a list of the top 200 tax-contributing enterprises in Vietnam, regardless of their business nature. This list includes state-owned enterprises, private enterprises, foreign-invested enterprises, and joint ventures.
The VNTAX 200 comprises a general list of enterprises with tax contributions exceeding 200 billion VND and a Leading Group of the top 200 enterprises. In cases where a conglomerate has multiple parent and subsidiary companies meeting the criteria, only the parent company is ranked. Consequently, companies with tax contributions in the thousands or tens of thousands of billions, such as Vinhomes (a subsidiary of Vingroup) and PVEP, BSR, and PV GAS (subsidiaries of PVN), will not be ranked but will be listed alongside their parent company.
Similar to PRIVATE 100, VNTAX 200 will also feature component lists, including the top enterprises in sectors like Banking, Real Estate, Energy and Resources, Lottery, and Retail.
TOP 200 TAX CONTRIBUTORS WITH NEARLY VND 685,000 BILLION IN TAX PAYMENTS
With a larger scope, the threshold for inclusion in the general list of VNTAX 200 and related industry lists is set at a minimum of VND 200 billion in tax contributions. The list published in 2024 is based on actual tax payments made during the financial year (12 months) ending between June 30, 2023, and March 31, 2024.
While only over 30 enterprises in the private company list had tax contributions exceeding VND 1,000 billion, VNTAX 200 already includes 104 enterprises at this level. Notably, 14 companies have contributed more than VND 10,000 billion, according to the currently compiled list.
The total tax contributions of the 200 enterprises in the VNTAX200 list amounted to VND 684,600 billion. Notably, the top 10 enterprises alone contributed nearly half of this amount, totaling VND 333,600 billion. Enterprises ranked 11th to 20th contributed over VND 100,000 billion, highlighting the significant scale of the leading enterprises.
TOP 10 ENTERPRISES ALL CONTRIBUTE MORE THAN VND 20,000 BILLION
The top 10 include five state-owned groups, three FDI enterprises, and two private enterprises, all with tax contributions exceeding VND 20,000 billion.
The top three spots are occupied by state-owned groups: PVN, Viettel, and Petrolimex. As the leading economic group in Vietnam, managing abundant oil and gas resources, the Vietnam National Oil and Gas Group (PVN) contributed nearly VND 95,000 billion last year, far surpassing all other enterprises.
The remaining two state-owned groups in the top 10 are the Vietnam National Coal and Mineral Industries Group (Vinacomin) and the Vietnam Electricity Group (EVN).
The FDI enterprises in the list are Toyota Vietnam and two PVN joint ventures, Vietsovpetro and Nghi Son Refinery and Petrochemical.
The two private enterprises are Vingroup and THACO.
Overall, the largest tax-contributing enterprises primarily operate in sectors such as oil and gas, energy, minerals (PVN, Petrolimex, Vinacomin, EVN, Vietsovpetro, NSRP), telecommunications (Viettel), automobiles (Vingroup, THACO, Thanh Cong Group, Toyota), beer and tobacco (Sabeco, Vinataba…), and banking (Vietcombank, MB, BIDV…).
Notably, the three private enterprises with the highest tax contributions, Vingroup, THACO, and Thanh Cong, are all engaged in automobile manufacturing and real estate development.
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