PV GAS is listed in TOP 10 corporate income taxpayers in Vietnam

The 10 largest corporate income taxpayers (according to consolidated financial statements), with the majority of enterprises owned by the State or with capital of the State shareholders, include: Vietnam Oil and Gas Group, PetroVietnam Exploration Production Corporation, Viettel Group, Vietnam Posts and Telecommunications Group, PetroVietnam Gas Joint Stock Corporation, Vietnam Mobile Telecom Services Company, Vietnam Joint Stock Commercial Bank For Industry And Trade, Vietnam Dairy Products Joint Stock Company. Two representatives of private enterprises and FDI are Vingroup Joint Stock Company and Honda Vietnam Company.

State-owned enterprises also account for 29% of the list but contribute up to 65.6% of total tax. Among 5 cities under direct control of the Government, Hanoi is the city claiming most number of enterprises in this list, followed by Ho Chi Minh City.

Although enterprises in minerals and petroleum sectors are not leading in number in ranking list, but they are winners in contribution of corporate income tax with 36.4% of total tax. The next positions include sectors of telecommunications, computer science, information technology (15.3%) and finance (10.5%).

The report also shows that over 70% enterprises participating in the survey thought their biggest concern is the high corporate income tax rate, followed by guidance circulars and documents with unspecific details. More than 86% of enterprises in the survey expected the tax rate to be further reduced in the future in better accordance with practical conditions of enterprises. Also, over 80% of enterprises wanted more simplified administrative procedures… The survey of Vietnam Report also indicated that over 67% of involved enterprises realized that administrative procedures and tax rates are being adjusted in positive direction, facilitating taxpayers. However, a third of enterprises have not really satisfied with reforms achieved in this field. Even nearly 12% of enterprises thought that these reforms are complicating tax declaration and payment. (Source: VNExpress)