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VietNamNews

Industry still leading tax contributor

Update: December, 03/2012 - 11:17

 

Motorbike parts being produced at Thailand-invested TS Viet Nam Company. The industrial sector continues to be the leading tax contributor on a list of 1,000 leading corporate taxpayers. — VNA/VNS Photo Huy Hung
HA NOI (VNS)— The industrial sector continued to be the leading tax contributor on the list of the 1,000 leading corporate taxpayers in Viet Nam, accounting for 66 per cent of total tax payments this year and including an additional 88 businesses from last year.

The so-called V1000 profile, released on Friday in Ha Noi by the Viet Nam Report Co in co-operation with the General Department of Taxation and online newspaper Viet Nam-Net, showed that the tax contribution made by the agriculture sector also sharply increased, with 17 new enterprises on the list in comparison with 2010 and 22 more than in 2009. The total paid by the service sector fell however.

In terms of corporate tax, industrial enterprises also accounted for the highest proportion with 61 per cent while agricultural firms made up 6.5 per cent.

Banking, telecommunications and real estate once again made a big tax contribution to the State Budget, accounting for 21, 20 and 12 per cent respectively out of the total 1,000 businesses.

According to the report, the economy and State Budget still depend on the financial and property sectors despite the downturn they are suffering.

It also revealed that the tax contribution of State-owned enterprises has remained stable as they paid more than half of the amount to the State. Private businesses accounted for 41 per cent of the total while the foreign direct investment sector saw a decrease in the number of enterprises listed.

Five big cities and provinces including Ha Noi, HCM City, Binh Duong, Dong Nai and Ba Ria-Vung Tau continued to top the list. Businesses in Ha Noi and HCM City contributed to three quarters of the total corporate tax.

This has been the third year a list has been announced recognising the contribution of 1,000 businesses in the context of the economic slowdown. The tax contribution of the businesses was VND54 trillion, accounting for 8 per cent of total enterprises operating in Viet Nam.

At a ceremony unveiling the list, Tran Duy Khuong, chief editor of Lao Dong (Labour) newspaper said they would announce the top 50 best workplaces in Viet Nam in June. —VNS

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