Outstanding Enterprises in Tax Payment Honoured

The taxation service organised a meeting in Hanoi on May 23 to honour outstanding enterprises and people in tax contribution with the participation of around 1,000 enterprises and people who have recorded excellent results in production and business activities, and tax payment.

According to the General Department of Taxation, in the State-owned sector, despite reorganisation and equitistation, tax revenues in the 2001-2004 period accounted for 37.7 per cent of total domestic revenues and 59.1 per cent of tax revenues of enterprises with an annual growth rate of 13.5 per cent. Outstanding enterprises include the VMS Corporation, the Thai Nguyen Iron and Steel Company, the Khanh Viet Corporation. The foreign-invested sector enterprises honoured included the Hanoi branch of ANZ Bank, Honda Vietnam, the Vietsov Oil and Gas Joint venture Factory.

In the private sector, the awareness of tax payment has improved with increased tax revenues, from 12.6 per cent in total domestic revenues and 19.5 per cent from enterprises' tax payment in 2000 to 13 per cent in domestic revenues and 21.3 per cent in enterprises' tax revenues in 2004 with an annual growth rate of 23 per cent.

Deputy Prime Minister Vu Khoan said that the Government had guided ministries and agencies to review administrative procedures to remove unnecessary ones, which troubled enterprises and reduced their competitiveness, especially issues on licences, costs, tax and tax refunding and taxable prices of imported goods. This is to create more favourable conditions for enterprises and people to invest in expanding production activities.

• L.A