The number of enterprises contributing over 1,000 billion VND in taxes to the VNTAX 200 reached an impressive 130, with 17 of those contributing over 10,000 billion VND, according to the currently compiled list.
The total tax contribution of the top 100 enterprises in the VNTAX200 list amounted to 724 trillion VND, a significant increase of 100 trillion VND from the previous year. Notably, the top 10 enterprises alone accounted for nearly half of this amount, contributing 362 trillion VND.
Commenting on the list, Dr. Nguyen Van Phung, former head of the Large Enterprise Tax Management Department of the General Department of Taxation (now the Large Enterprise Tax Department of the Tax Department), stated that to ensure sustainable state budget revenue, it is essential to focus on the development and business operations of enterprises.
Therefore, in addition to special tax contributions related to their specific fields of business (such as resource taxes and special consumption taxes for oil and gas enterprises, or land taxes for real estate enterprises), one of the most equitable and sustainable measurements is the portion of tax contributions derived from profits (corporate income taxes, profit allocation to the state budget, etc.).
When considering the enterprises with the largest contributions in terms of corporate income taxes and profit allocation to the state budget, three stand out: Viettel, PVN, and Vingroup. Among them, Viettel takes the lead in both the scale and structure of its contributions.
“It is worth mentioning that Viettel, a state-owned enterprise, is one of the entities that I highly trust. It truly embodies the spirit of being an enterprise of the people, by the people, and for the people,” said Dr. Nguyen Van Phung in his assessment.
Viettel’s tax contribution for 2024 reached an impressive 46.3 trillion VND, reflecting a 17% increase from the previous year and showcasing the enterprise’s pivotal role in contributing to the country’s financial resources.
The majority of Viettel’s tax contributions stem from its business operations: in addition to paying over 8.3 trillion VND in corporate income taxes, the corporation also contributed nearly 30 trillion VND from post-tax profits to the state budget, totaling approximately 38 trillion VND in contributions derived from its profits.
This figure significantly surpasses the similar contributions (corporate income taxes and post-tax profits contributed to the state budget) of other large state-owned enterprises, such as PetroVietnam (over 22 trillion VND), SCIC, and Satra…
Viettel’s positive profits are attributed to the growth in domestic telecommunications and the expansion of its international business. In the international market, Viettel recorded a remarkable 17% increase in revenue. The remittance to Vietnam amounted to 467 million USD, exceeding the annual plan. As a result, Viettel has achieved capital recovery in five foreign markets. As of last year, the corporation’s capital recovery rate reached 85%, ahead of the proposed schedule.
With a vision to become a global technology corporation, Viettel is currently engaged in research, production, and commercialization of high-tech products, as well as operating Vietnam’s largest data centers. Notably, in 2024, Viettel’s digital solution revenue grew by 38%, contributing to 40% of the corporation’s total revenue.
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