Honoring businesses that pay hundreds of billions of dong to the budget

At the Ceremony to Honor the Enterprises with the Largest Budget Contributions in 2025 organized by the CafeF Economic and Financial Information Channel on September 9, there was a list of VNTAX 200 gathering enterprises with budget contributions of 200 billion VND or more, and a list of PRIVATE 100 honoring private enterprises with contributions of 100 billion VND or more.

Mr. Pham Quang Minh - Director of CafeF spoke at the Honor Ceremony.

The PRIVATE 100 and VNTAX 200 lists are currently honor boards that comprehensively reflect the level of contribution of businesses in all economic sectors to the State budget.

Attending the ceremony were many delegates who were senior leaders from State agencies, leading economic experts and representatives of nearly 200 typical enterprises. This is an annual activity to honor enterprises that have made important contributions to the national budget, affirming the leading role and strength of the Vietnamese business community.

Speaking at the event, Mr. Pham Quang Minh, Director of CafeF, emphasized the role of the business community in the context of Vietnam's economy in 2024 achieving many remarkable achievements, especially in state budget collection.

Accordingly, the total state budget revenue in 2024 will reach more than 2 million billion VND, in which enterprises on the VNTAX 200 and PRIVATE 100 lists will make a huge contribution. Specifically, the VNTAX 200 group has paid nearly 800,000 billion VND and the PRIVATE 100 group has paid nearly 245,000 billion VND.

Dr. Nguyen Van Phung - Former Director of Large Enterprise Tax Management Department (formerly General Department of Taxation).

Speaking at the ceremony, Dr. Nguyen Van Phung, former Director of the Large Enterprise Tax Management Department (formerly the General Department of Taxation) emphasized the importance of considering the nature of revenue sources; at the same time, promoting the sustainability of corporate income tax and personal income tax (PIT) compared to revenue from natural resources. “Private enterprises, although not the largest in scale, but with stable growth and regular contributions to the budget, are healthy 'cells', creating spillover effects and new thinking in production and business, contributing to building a self-reliant and strong economy,” said Dr. Nguyen Van Phung.

In the Real Estate - Multi-industry sector, Vingroup was named first, with the position of the largest private enterprise contributing to the budget in Vietnam. Along with that, Vinhomes, the largest private real estate enterprise contributing to the budget, continues to affirm its number one position in the market.

Hoa Phat Group, the largest steel producer in Southeast Asia, was honored in the Top 14 enterprises with the largest budget contributions in the country, demonstrating the strength of Vietnam's industry.

Commercial banking sector accelerates budget contributions, consolidating national resources.

In the group of private banks, leading brands such as Techcombank, VPBank, HDBank… have been recognized for their outstanding contributions.

Techcombank is the private bank that contributes the most to the budget in Vietnam for 3 consecutive years.

The banking sector has a strong presence, showing the vital role of the financial sector. A series of big names were honored such as Agribank (Top 3 banks with the largest budget contributions), Techcombank (excellently holding the No. 1 position in the private banking sector for 3 consecutive years), along with VPBank, LPBank, HDBank, ACB, SHB, TPBank, OCB.

For the banking industry alone, 2024 is considered a breakthrough year when the total budget contribution of the top 20 banks reaches more than VND 95,400 billion, an increase of 19% over the previous year and 68% higher than in 2022. According to the published list, Techcombank holds the leading position in the private banking sector with a budget contribution of VND 6,775 billion in 2024.

In the Consumer Goods - Retail sector, Vinamilk and PNJ continue to be the typical names, demonstrating the strong development of the domestic market. The securities industry also made its mark with the honor of VPS Securities JSC and VPBank Securities JSC, showing the growing vitality and contribution of the capital market.

If we consider the enterprises that pay the largest amount of corporate income tax and transfer of profits to the budget, we can see that the top 3 names are: Viettel, PVN and Vingroup. In particular, Viettel's outstanding achievements are in both the scale of payment and the structure of payments.

Viettel's budget contribution in 2024 is up to 46,300 billion VND, an increase of 17% compared to the previous year, demonstrating the pivotal role of this enterprise in contributing to the national financial resources. Viettel's budget contribution mainly comes from business activities: In addition to more than 8,300 billion VND of corporate income tax, the Group also paid nearly 30,000 billion VND from after-tax profit to the state budget, a total of about 38,000 billion VND paid to the budget from the Group's profit. This payment level is much higher than the similar figure (corporate income tax & after-tax profit paid to the budget) of other state-owned enterprises with large payments.

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Source: https://baolaocai.vn/vinh-danh-doanh-nghiep-nop-ngan-sach-hang-tram-ty-dong-post881680.html