Honda and C.P. are the only two foreign names in the list of 2021’s top 10 corporate income tax payers in Vietnam, according to the General Department of Taxation.
The department released the top 1,000 taxpayers’ list last Thursday but did not quantify the actual payments made.
Japan-invested Honda Vietnam, a major car and motorbike maker, ranked sixth, followed by C.P. Vietnam, an integrated agro-industrial and food subsidiary of Thailand’s C.P. Group.
The corporation established its first animal feed factory in Vietnam in the southern province of Dong Nai in 1993, focusing on feed, farms and food. It has since become a dominant player in the country’s livestock market.
Military-run telecom giant Viettel was the number one tax payer, followed by Vietcombank.
The banking sector has five representatives in the top 10 - Vietcombank, Techcombank, VietinBank, VP Bank, and Agribank, ranking second, fourth, fifth, eighth, and tenth, respectively.
Green City Development JSC and Gia Lam Urban Development and Investment Company Limited are the two real estate firms in the top 10. They are linked to realty giant Vinhomes JSC, a subsidiary of Vietnam's largest private conglomerate Vingroup.
Green City Development is well known as the investor of Vinhomes Grand Park urban area in Ho Chi Minh City, while Gia Lam Urban is the investor of Vinhomes Ocean Park urban area in Hanoi.
The top 20 list features two subsidiaries of South Korean electronics giant Samsung, namely Samsung Electronics Vietnam (SEV) and Samsung Electronics Vietnam Thai Nguyen (SEVT). Heineken Vietnam Brewery Limited Company is another major brand name on the list.
In the first nine months of the year, the department collected taxes of VND1,102 trillion ($45.39 billion), up 21.6% year-on-year, including VND78,200 billion in September, up 29.1% year-on-year.
Top 10 corporate tax payers in Vietnam. Source: General Department of Taxation
1. Viettel
2. Vietcombank
3. Green City Development JSC
4. Techcombank
5. VietinBank
6. Honda Vietnam
7. C.P. Vietnam
8. VPBank
9. Gia Lam Urban Development and Investment Company Ltd.
10. Agribank