Vingroup leads biggest real estate taxpayers

Vingroup leads biggest real estate taxpayers

The ranking, announced under the Vietnam Largest Taxpayers (VNTAX) programme, evaluates companies based on their actual budget contributions during the 2025 financial year.

A view of the Vietnam Exposition Centre, which was developed by Vingroup, in Đông Anh Commune, Hà Nội. — VNA/VNS Photo

 Việt Nam's 20 largest real estate taxpayers contributed a combined VNĐ230 trillion (US$8.8 billion) to the State budget based on their actual payments in the 2025 financial year, with Vingroup taking the top position by a wide margin, according to the Vietnam Largest Taxpayers 2026 ranking.

The ranking, announced under the Vietnam Largest Taxpayers (VNTAX) programme, evaluates companies based on their actual budget contributions during the 2025 financial year.

Vingroup topped the list with payments of more than VNĐ148.7 trillion, becoming the first Vietnamese private enterprise to contribute more than VNĐ100 trillion to the state budget in a single year.

Its contribution was primarily driven by Vinhomes and its subsidiaries, which paid VNĐ73.2 trillion, while parent company Vingroup contributed nearly VNĐ49.4 trillion and VEFAC nearly VNĐ14.6 trillion.

Three other property businesses recorded contributions exceeding VNĐ10 trillion.

Sunshine Group ranked behind Vingroup with more than VNĐ24 trillion, supported by projects including Noble Place Tây Thăng Long and Noble Crystal River. 

Citra West Lake City Development Company, the developer of Ciputra Hanoi, contributed VNĐ13.6 trillion, while BRG Group, through member company NH Smart City, paid nearly VNĐ13.2 trillion.

Other established developers appearing among the largest contributors included BIM Group, Taseco Land, Phat Dat, Nam Long, Van Phu, Tan A Dai Thanh's MEYLAND and Novaland.

The 2026 ranking also recorded several newer names. 

CTX Holdings contributed nearly VNĐ5 trillion in connection with its Sun Feliza Suites project, while JS Real Estate, developer of the Jade Square project, also entered the list.

Industrial and commercial property companies were also represented, including Kinh Bac City, Sonadezi, IDICO, Viglacera and Vincom Retail. State-owned enterprises HUD and Sonadezi were among the top 20 overall property taxpayers.

The scale of the sector's contribution was particularly significant compared with overall state budget revenue.

The Top 20 property companies contributed VNĐ230 trillion, equivalent to nearly 9 per cent of Việt Nam's total state budget revenue of VNĐ2.65 quadrillion in 2025. 

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