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State enterprises still most taxpayers

 JSC Vietnam Assessment Report (Vietnam Report) recently announced the V1000 for the units that pay corporate income tax at most countries. The results obtained showed that the total amount paid for the 1000 budget at around 80 460 units and accounted for 10.2% billion total revenue. Of these, 100 leading enterprises contributed more than 57% of total taxes collected.

Most represented in the Top 10 is still coming from state sector. Photo: VNA
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Among the 10 largest taxpayers unit (based on the consolidated financial statements), majority-state bloc, or have equity shareholders mainly from the State, including Petro, Total Companies exploiting oil and gas exploration PetroVietnam, Viettel Mobile, Posts and Telecommunications Corporation, Vietnam Gas Corporation, Company Info Mobile, Industrial and Commercial Bank, JSC Vietnam Dairy Products . Two representatives of private enterprises and FDI are Vingroup and Honda Vietnam Company.

State business group also accounts for 29% of the units are in the standings but contributed 65.6% of the taxes. In group 5 Municipalities of Vietnam, Hanoi has the most number of firms in the list, followed by HCMC.

Mineral industry - petroleum, while not leading in the number of firms entered the rankings but it is the champion of the corporate income tax with a contribution rate of 36.4% of the taxes. Next to the telecommunications, computer science, information technology (15.3%) and finance (10.5%).

The report also showed that more than 70% of the units participating in the survey said that corporate income tax rates remain high is their biggest concern, followed by circulars, guidelines are not really spending weather. Over 86% of respondents now expect the tax rate will continue to decrease in the near future to better suit practical conditions of business. In addition, over 80% of the desired unit of administrative procedures will be simplified further ...

Vietnam Report's survey also showed that over 67% of businesses involved have confirmed that the administrative procedures, the tax is to be adjusted in a positive direction, creating more favorable to taxpayers. However, there is still a third of enterprises have not really satisfied with the reforms in this area recently. Even almost 12% of businesses also said that reforms are now making the declaration and tax payment becomes more difficult.
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