The ranking, compiled by the financial website cafef.vn based on taxes paid during the 2025, showed that the group contributed almost VNĐ2.95 trillion more than a year earlier. — Photo baochinhphu.vn

HÀ NỘI — Fifteen securities firms paid a record combined VNĐ14.3 trillion (US$544 million) into the State budget in 2025, up nearly 26 per cent from the previous year, according to the 2026 Vietnam Largest Taxpayers (VNTAX) ranking.

The ranking, compiled by the financial website cafef.vn based on taxes paid during 2025, showed that the group contributed almost VNĐ2.95 trillion more than a year earlier, reflecting the rapid expansion of Việt Nam's stock market.

VPS remained the country's largest taxpayer among securities firms for the third consecutive year, paying VNĐ2.85 trillion, equivalent to nearly 20 per cent of the total tax contribution by the top 15 companies. The firm also maintained the largest brokerage market share on the Hochiminh Stock Exchange in 2025.

Private companies accounted for 10 of the 15 firms on the list, alongside three securities companies affiliated with State-controlled banks and two owned by South Korean financial groups.

Fourteen of the 15 companies increased their tax payments compared with 2024, suggesting that stronger contributions were broadly shared across the industry rather than concentrated among a few market leaders.

Personal income tax accounted for about VNĐ9.3 trillion, or 65 per cent of the total, while corporate income tax reached around VNĐ4.17 trillion, equivalent to 29 per cent. The remainder comprised value-added tax and other tax obligations.

The higher tax payments came as Việt Nam's stock market posted strong growth in 2025. The VN-Index ended the year at 1,784.49 points, up 40.9 per cent from the end of 2024, while average daily trading value rose 39 per cent to VNĐ29.2 trillion.

More than 2.57 million new securities accounts were opened during the year, bringing the total to over 11.87 million. — BIZHUB/VNS