Vingroup is the only private enterprise selected in top ten tax contributors in Viet Nam — VNS Photo

HA NOI (Biz Hub) — Vingroup was among the top ten biggest corporate taxpayers in the country in 2014.

This was announced at a ceremony held on December 2 to release the V1000 that lists the 1000 biggest corporate taxpayers in Viet Nam.

The list has been released annually by the Viet Nam Report Company (VNRC) and the taxation department since 2010 to honour the tax contributors.

This year, V1000 companies contributed VND80.46 trillion (US$3.77 billion), accounting for 10.2 per cent of the entire State budget. The 100 largest businesses on the list contributed more than 57 per cent of the total tax contributions. State-owned enterprises (SOEs) comprised 29 per cent of the firms on the list, and gave 65.6 per cent of the total tax contributions.

Vingroup ranked seventh on the list. The Vingroup representative said that it was the first private capital enterprise to figure on the list together with large State-owned enterprises such as PVN, Viettel and VNPT, besides Vinamilk.

Vingroup, which works in the fields of real estate and resorts, health and education, achieved outstanding business results in 2013, earning the largest revenue of VND18.37 trillion ($862.9 million), a year-on-year increase of 132 per cent.

The group also contributed nearly VND2.6 trillion ($122 million), an increase of 308 per cent over 2012, to the State budget.

Vingroup expects better results in 2014, with its increasing development projects nationwide.

The group's representative said that the recognition by V1000 not only honours the contribution of the private sector to the country's economy, but also shows the increasing openness and transparency of the local investment environment.

The top ten tax contributors in 2014, as per VN Report based on the consolidated financial statements, are:

1. VIETNAM NATIONAL OIL AND GAS GROUP

2. PETROVIETNAM EXPLORATION PRODUCTION CORPORATION (PVEP)

3. VIETTEL GROUP

4. VIETNAM POST AND TELECOMMUNICATIONS GROUP (VNPT)

5. PETROVIETNAM GAS JOINT STOCK CORPORATION

6. VIETNAM MOBILE TELECOM SERVICES COMPANY

7. VINGROUP JOINT STOCK COMPANY

8. VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE

9. VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY

10. HONDA VIETNAM COMPANY — VNS