Telecommunications, financial and petroleum sectors remain Vietnam’s largest tax contributors in the 2014 list of 1,000 largest corporate income tax payers in the country, with the Military Telecommunication Group (Viettel) claimed the top.
Military-owned Viettel was followed by Vietnam Mobile Telecom Services Company (VMS) and PetroVietnam Gas Joint Stock Corporation (PV Gas), according to the V1000 list released Tuesday by the Vietnam Report Company (VNRC) and the Taxation Department.
Total tax contributions from the V1000 this year reached VND80.46 trillion (US$3.8 billion), accounting for 10.2 percent of the year’s total revenues of the state exchequer.
The list also showed that the 100 biggest businesses contributed more than 57 percent of total tax contributions.
State-owned companies accounted for 29 percent of the list but contributed 65.6 percent of the total tax revenues.
The report found more than 86 percent of polled enterprises wanted that tax rates would be amended in the future. More than 81 percent wanted that tax procedures are simplified.
A third of them were not happy with reforms in tax procedures. More than 11 percent said the reforms had counter effects and making the procedures more difficult.
Top ten taxpaying companies in Vietnam in 2014:
1. Military Telecommunications Group (Viettel)
2. Vietnam Mobile Telecom Services Company (VMS)
3. PetroVietnam Gas Joint Stock Corporation (PV Gas)
4. Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)
5. Honda Vietnam Company
6. Vietnam Dairy Company
7. VietsovPetro Joint Venture Enterprise (VietsovPetro)
8. JSC Bank for Foreign Trade of Viet Nam (Vietcombank)
9. Bank for Investment and Development of Vietnam (BIDV)
10. Vietnam Brewery Company.