PetroVietnam is a typical tax payer in the period of 2020-2022, among the Top enterprises paying the largest budget in the country.

Parent company - Vietnam Oil and Gas Group ( PetroVietnam ) is a typical leading taxpayer in the service industry supporting crude oil and natural gas exploitation.

Thành viên HĐTV Petrovietnam Nguyễn Văn Mậu đại diện Công ty mẹ - Tập đoàn Dầu khí Việt Nam nhận tôn vinh tại hội nghị. (Nguồn: PVN)

Petrovietnam Board Member Nguyen Van Mau, representing the parent company - Vietnam Oil and Gas Group, received the honor at the conference. (Source: PVN)

On October 20 in Hanoi, the General Department of Taxation - Ministry of Finance held a conference to honor outstanding taxpayers for the period 2020-2022.

In the period of 2020 - 2022, the world economic and political situation has many complicated fluctuations, the domestic economy is affected by the Covid-19 pandemic, which has affected production - business activities and seriously reduced international trade and tourism activities.

During this difficult period, the message “Enterprises are the driving force for the country’s economic development” has always received great attention from the Party and the State and is the goal and orientation in most policies. Accordingly, the Ministry of Finance has proactively proposed, submitted to competent authorities and issued under its authority many solutions in the financial sector, especially policies related to tax deferral, reduction, and postponement, land rent, etc. to provide timely support and resolve difficulties for the business community and the people.

These are policy solutions on extending, exempting and reducing taxes, fees, charges and land rents, exempting and reducing corporate income tax, personal income tax, value added tax, import tax, environmental protection tax, and many other fees and charges to support businesses, people and the economy. The total scale of support solutions in 2020 is about 129 trillion VND, in 2021 about 145 trillion VND, in 2022 about 233 trillion VND.

Thus, in just 3 years from 2020 to 2022, the total scale of solutions to support businesses is more than 507 trillion VND, of which the amount of extended taxes is over 352 trillion VND, and the amount of exempted and reduced taxes is about 155 trillion VND. This is not a small number and is meaningful as a direct State support for people and businesses to reduce financial obligations and stabilize production and business.

Speaking at the Conference, Comrade Ho Duc Phoc, Member of the Party Central Committee, Minister of Finance congratulated 138 outstanding enterprises that were commended for their extremely positive contributions to the national budget revenue in the period of 2020 - 2022.

The Minister affirmed that in the coming time, the Ministry of Finance will continue to create all conditions for businesses, remove difficulties in tax, customs and other management; At the same time, focus on perfecting policy mechanisms, removing difficulties for businesses, reforming administrative procedures, proposing support policies to create capital sources for business development.

Among the honored enterprises, the parent company - Vietnam Oil and Gas Group is a typical enterprise in tax payment, leading the service industry supporting crude oil and natural gas exploitation. In the period of 2020-2022, the parent company of the Group paid over 56 trillion VND to the budget.

With 62 years of construction and development, PetroVietnam is a state-owned economic group that plays a pivotal role in the economy, contributing a large amount of budget revenue and also plays a leading and key role in ensuring energy security, economic security, food security and national sovereignty security at sea.

Up to now, PetroVietnam has continuously ranked first in the list of most profitable enterprises in Vietnam; and is rated BB+ by the prestigious rating organization Fitch Ratings.

At the same time, PetroVietnam is one of the enterprises with the largest budget contribution in the country as well as one of the 6 units to implement electronic invoices the earliest (from the beginning of November 2021). During the difficult period of the Oil and Gas industry from 2016 to 2022, the total State budget contribution of the Group always accounted for 7-10% of the total State budget revenue.

Along with the Group's parent company, at the Conference, a number of typical oil and gas enterprises were also honored. In particular, Binh Son Refining and Petrochemical Joint Stock Company (BSR) with a budget contribution of over 28 trillion VND in the 2020-2022 period, is in the leading group in the production of coke and refined petroleum products.

Cuu Long Joint Operating Company (Cuu Long JOC) with budget contribution of over 36 trillion VND in the 2020-2022 period is among the leading service providers supporting oil and gas exploitation and natural gas exploitation.

Some enterprises in the Oil and Gas industry were also honored such as PTSC M&C, PETROSETCO PSV, PVOIL Central.

Source