In the period of 2020 – 2022, the world economic and political situation has many complicated fluctuations; the domestic economy affected by the COVID-19 pandemic has seriously affected production and business activities as well as international trade and tourism activities. 

In this difficult period, the message “Enterprises – driving force for the country’s economic development” has always been paid great attention by the Party and State and is the goal and orientation in most policies. Accordingly, the Ministry of Finance has proactively proposed, submitted to competent authorities and promulgated according to its competence many solutions in the financial sector, especially policies related to tax extension, reduction, deferral, land rent... to provide timely support and solve difficulties for the business community and people. 

Leaders of the Ministry of Finance and the General Department of Taxation award honors to businesses

These are policy solutions on extension, exemption and reduction of taxes, fees, charges and land rent, exemption and reduction of corporate income tax, personal income tax, value-added tax, import tax, environmental protection tax, and many fees and charges to support enterprises,  people and the economy. The total scale of support solutions is about 129 trillion dong in 2020, about 145 trillion dong in 2021, and about 233 trillion dong in 2022. 

Thus, in three years from 2020 to 2022, the total scale of business support solutions is more than 507 trillion dong, of which the tax amount extended is over 352 trillion dong, and the amount of tax exemption and reduction is about 155 trillion dong. This is not a small number and meaningful as the State’s direct support for people and enterprises to reduce financial obligations, stabilize production and business. 

Speaking at the Conference, Mr. Ho Duc Phoc, Member of the Party Central Committee, Minister of Finance congratulated 138 typical enterprises that have been praised for their very positive contributions to the country’s budget revenue in the period of 2020 – 2022. 

The Minister affirmed that in the coming time, the Ministry of Finance would continue to create all conditions for enterprises, remove difficulties in tax, customs and other management; at the same time focus on perfecting mechanisms and policies, removing difficulties for enterprises, reforming administrative procedures, proposing policies to support capital creation for enterprises to develop. 

Petrovietnam member of the Board of Directors Nguyen Van Mau, representative of the parent company - Petrovietnam, receives the honor at the Conference

Among the honored enterprises, the parent company - Petrovietnam is a typical enterprise in tax payment, leading the service industry supporting crude oil and natural gas production. In the period of 2020-2022, the Group has submitted over 56 trillion dong to the budget. 

With 62 years of construction and development, Petrovietnam is a state-owned economic group playing a pivotal role in the economy, contributing a large amount of budget revenue but also playing a leading and key role in ensuring energy security, economic security, food security and national sovereignty security at sea. Up to now, Petrovietnam is continuously ranked first in the ranking of the most profitable enterprises in Vietnam; rated BB+ credit index by Fitch Ratings - prestigious rating agency. At the same time, Petrovietnam is one of the enterprises with the largest budget payment in the country as well as one of six units to deploy e-invoices earliest (from the beginning of November 2021). In the difficult period of the oil and gas industry from 2016 to 2022, the whole Group’s payment always accounts for 7-10% of the total State budget revenue. 

BSR General Director Bui Ngoc Duong receives the honor at the conference

Along with the Group’s parent company, at the Conference, some typical oil and gas enterprises were also honored. In particular, Binh Son Refining and Petrochemical Joint Stock Company (BSR) with the budget payment of over 28 trillion dong in the period of 2020-2022, is in the leading group of coke and refined petroleum product industry.   

Cuu Long JOC General Director Le Dac Hoa receives the honor at the ceremony

Cuu Long Joint Operating Company (Cuu Long JOC) with the budget payment of over 36 trillion dong in the period of 2020-2022, is in the leading group of the service industry supporting oil and gas and natural gas production. 

PTSC M&C representative receives the honor

PETROSETCO PSV representative receives the honor

Representative of PVOIL in the Central region receives the honor

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

Leaders of the General Department of Taxation congratulated Petrovietnam and the units