Telecom firms top list of corporate tax payers

TN News

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Telecom giants MobiFone and Viettel have headed the top ten list of Vietnamese companies with the highest corporate income tax payments from 2007 to 2009, news website VnExpress reported Friday.

MobiFone, run by state-owned Vietnam Posts and Telecommunications Group, paid a total corporate income tax of nearly VND6 trillion over the period, followed by military-run Viettel, the report said.

VnExpress said it was a surprise that the two telecom firms topped the list, instead of large banks or the state oil and gas group PetroVietnam.

"The results show that telecom was the most lucrative sector over the past three years," the report said, noting that both MobiFone and Viettel posted an average growth rate of 70-80 percent a year despite the economic downturn.

Together the companies in the top ten list paid a combined VND25.8 trillion in taxes. PetroVietnam Gas, Vietcombank and PetroVietnam were other companies making up the top five.

The figures were compiled by Tax Magazine, run by the General Tax Bureau, and VnExpress said they were confirmed by an official of the bureau.

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