Representatives of enterprises are honoured among the largest taxpayers in Việt Nam in 2026 at an award ceremony. — VNS Photo Ly Ly Cao

HÀ NỘI — Việt Nam's leading private enterprises are rapidly closing the gap with State-owned companies in contributions to the national budget, with the country's top 20 corporate taxpayers alone paying VNĐ614 trillion (US$23.6 billion) in 2025.

The country's largest taxpayers, or VNTAX 2026, were honoured at the 2026 ceremony held in Hà Nội on September 15.

Data from VNTAX 2026 showed that the 100 leading private enterprises paid VNĐ390.7 trillion into the State budget in 2025, only around VNĐ35.1 trillion less than the contribution from the top 100 State-owned enterprises.

At the same time, budget contributions were heavily concentrated among the country's largest companies. The top 20 enterprises in VNTAX 200 contributed nearly 62 per cent of the total payments made by companies on the list.

The number of companies paying more than VNĐ10 trillion into the budget also increased significantly, reaching 26 in this year's VNTAX 200, nine more than in the previous ranking.

The VNTAX system, developed by CafeF based on companies' actual State budget payments during the 2025 fiscal year, comprises VNTAX 200, PRIVATE 100 and STATE 100.

According to PRIVATE 100, the 100 largest private-sector taxpayers contributed VNĐ390.7 trillion, an increase of VNĐ146.3 trillion, or 60 per cent, from the previous ranking. The amount was equivalent to around 14.7 per cent of Việt Nam’s total State budget revenue in 2025.

The 100 State-owned enterprises in STATE 100, meanwhile, contributed VNĐ425.8 trillion after eliminating duplicated payments between parent companies and subsidiaries, equivalent to around 16 per cent of national budget revenue.

This means payments by PRIVATE 100 have reached nearly 92 per cent of those by STATE 100.

The changing balance was also evident in VNTAX 200, which covers companies across all ownership structures. The list comprises 99 private enterprises, 73 State-owned companies and 28 foreign-invested or joint-venture enterprises.

Despite having fewer companies on the list, the State-owned sector remained the largest contributor, paying more than VNĐ424 trillion, or 43 per cent of total VNTAX 200 payments. Private enterprises followed with more than VNĐ390 trillion, accounting for 39 per cent.

Growth in private-sector contributions was driven largely by its biggest taxpayers. Total payments from the top 10 companies in PRIVATE 100 surged from around VNĐ148 trillion to VNĐ268 trillion within a year, an increase of about 80 per cent.

Vingroup topped PRIVATE 100, with its budget contribution rising from VNĐ56.2 trillion to nearly VNĐ148.8 trillion.

Other major private taxpayers included Sunshine Group, NH Smart City under BRG Group, THACO, Hoa Phat Group, FPT Corporation, Techcombank, VPBank and ACB.

Among State-owned enterprises, the largest contributors remained concentrated in major sectors including oil and gas, energy, petroleum, telecommunications and banking.

PetroVietnam ranked first in STATE 100 with approximately VNĐ91 trillion in payments, followed by Viettel with more than VNĐ42.29 trillion. — BIZHUB/VNS