State firms pay 58 percent of all corporate taxes
(VOV) - State-owned enterprises (SOEs) continue to be the leading tax contributors in the list of the 1,000 leading corporate taxpayers in Vietnam, accounting for 58 percent of total tax payments this year.
Many commercial banks which continue to be majority-owned by the State, including Vietinbank, BIDV, Agribank and Asia Commercial Bank, were also high on the list.
Other sectors with companies making significant tax contributions included construction, real estate, building materials, mining, petroleum and food processing.
Rankings were based on the total corporate income tax paid in the three consecutive fiscal years between 2009 and 2011.
Despite the SOEs’ dominance, the private sector accounted for 22 percent of tax collections during the period, an increase of 4 percent over last year's survey.
Of 410 newly rated businesses, 51 percent were from the private sector, compared to just 31 percent last year.
Enterprises in the two leading cities of Ho Chi Minh City and Hanoi continued to be the nation's primary economic drivers, accounting for 60 percent of corporate taxpayers on the list.