Vingroup contributes nearly 2.2 billion USD to the state budget in 2024, more than 15 provinces combined, from what?

In 2024, Vingroup (VIC) contributed nearly 56.163 trillion VND (approximately 2.2 billion USD) to the state budget, a rise of 82% compared to 2023. This amount exceeds the combined contributions of 15 provinces with the lowest payments. Notably, over half of this contribution comes from land use fees and other obligations under Build-Transfer contracts, totaling 28.797 trillion VND, which is 5.8 times higher than the previous year. The corporate income tax was the second largest at 11.833 trillion VND, increasing by 72%. Vingroup also paid 5.710 trillion VND in value-added tax and 2.970 trillion VND in personal income tax, along with other taxes. From 2018 to 2024, Vingroup has contributed nearly 234 trillion VND to the state budget. The company’s net revenue in 2024 reached 189.068 trillion VND, with a net profit of 5.276 trillion VND, representing increases of 17% and 157% respectively over the previous year. VIC shares have shown remarkable growth, raising market capitalization to over 228 trillion VND, making it the third most valuable company on the stock exchange.