Masan is in the TOP 10 private enterprises paying the most taxes in Vietnam.

(Chinhphu.vn) - In the newly announced list of 100 private companies that pay the largest tax (PRIVATE 100), the top 10 names are all familiar private corporations, including Masan Group.

Masan Consumer HR team received awards at EOC 20224 event

Masan is in the TOP 10

The PRVIATE 100 list - honoring the private enterprises that contribute the most to the budget in Vietnam in the fiscal year 2024 has just been officially announced. The top 100 enterprises of PRIVATE 100 have a total budget contribution in 2024 of VND 244,400 billion - an increase of more than VND 70,000 billion compared to the list of last year.

The top half of the list, including 48 enterprises, are units with tax payments of over VND1,000 billion - a significant increase compared to only 30 enterprises on last year's list.

With a total of hundreds of thousands of billions of VND contributed by leading enterprises, this is the only budget contribution honor board that comprehensively reflects the level of contribution of enterprises in all economic sectors.

This reflects the growth of the private economic sector.

To be in the TOP 10, businesses must have budget contributions of VND 4,800 billion or more, and Masan Group is among them.

According to statistics, the top 10 private enterprises on the list have paid a total of nearly 148,000 billion VND to the budget, an increase of 36% compared to the total payment of nearly 109,000 billion VND last year.

Masan Group Corporation (stock code MSN) - the 'tycoon' of the retail and consumer industry with a capitalization of 4 billion USD, has paid more than 4,800 billion VND (in 2024), an increase of 380 billion VND compared to 2023. The largest amount that Masan Group paid was 1,408 billion VND in corporate income tax and 1,766 billion VND in value added tax. Special consumption tax, import-export tax, and personal income tax are in the range of 265 - 400 billion VND.

Over the years, Masan has achieved outstanding achievements such as being in the TOP 500 largest enterprises in Southeast Asia by Fortune, TOP best listed companies in Vietnam (voted by Forbes), TOP 10 largest private enterprises in Vietnam...

Masan Group's efforts

Over the years, Masan Group has always contributed 4,000 - 5,000 billion VND/year to the budget. However, it should be emphasized that Masan Group is a corporation that includes retail, consumer goods manufacturing and finance, in which the retail segment is undertaken by WinCommerce. The company in charge of the Consumer Goods segment, which is listed on the stock exchange, Masan Consumer (MCH), has also contributed nearly 2,300 billion VND to the budget last year.

According to Masan Group's analysis, total retail sales of goods and services in 2024 will grow more slowly than in 2023. Specifically, in 2024 it will reach 9.0% while in 2023 it will reach 9.4%. When excluding price factors, retail sales growth of goods and services will only reach 5.9%, lower than the 6.8% in 2023.

Notably, monthly revenue growth in 2024 is expected to average 17% lower than in 2023, reflecting cautious spending sentiment.

Masan said that one favorable factor is that the Government has implemented measures such as reducing VAT, cutting fees and increasing basic salaries by 30% for public sector employees to boost household purchasing power in 2025.

2025 opens up an optimistic view of consumption recovery and long-term prospects as Vietnam's GDP per capita is forecast to surpass the US$5,000 mark and the World Bank forecasts Vietnam to achieve GDP growth of 6.8% in 2025 while the Vietnamese Government targets GDP growth of 8% or more in 2025, laying the foundation for double-digit growth from 2026 onwards.

"If these targets are achieved, Vietnam's GDP will reach the 500 billion USD mark, with GDP per capita reaching 5,000 USD, marking an important turning point for many sectors, especially the consumer and retail industries," Masan Group assessed.

In the supermarket sector, the trend of shifting food and FMCG shopping from traditional markets to modern retail channels will continue to increase strongly in 2025. Experts predict that traditional retail market share will continue to shrink, while modern retail channels maintain high growth rates, especially mini-supermarkets and convenience stores.

The Group's leaders emphasized that Masan's 2025 strategy focuses on consolidating and expanding the Consumer - Retail - Technology ecosystem, with the goal of increasing revenue and profit, especially in the consumer goods and retail sectors. Masan Consumer targets double-digit growth, focusing on upgrading the seasoning industry, expanding the purchasing map and restoring convenience foods. WinCommerce (WCM) will expand its network, focusing on the Urban WinMart and Rural WinMart models, and promoting the WiN membership program.

Vinh Hoang

Source: https://baochinhphu.vn/masan-nam-trong-top-10-doanh-nghiep-tu-nhan-nop-thue-nhieu-nhat-viet-nam-102250819102104783.htm