BSR among biggest tax payers in Vietnam

At the ceremony, Mr. Bui Van Nam, Head of the General Department of Taxation said that the top 1,000 tax payers in Vietnam in 2017 contributed more than VND110 trillion to the State budget, increasing 8.45% from the previous year, and accounting for nearly 63% of total tax contributions.

In 2017, BSR completed and exceeded the set target for output and finance. Production output reached more than 6.1 million tons while revenue posted over VND82 trillion, contributing over VND10.23 trillion to the State budget and after-tax profit was about VND8.66 trillion. It also paid VND514.2 billion of income tax.

Being in the list resulted from BSR’s positive performance in 2017, especially the continuous and stable operation of the Dung Quat Oil Refinery Plant at an average capacity of 105%-107% of the designed capacity. In addition, BSR successfully implemented 9 among 20 solutions, and saved VND932.82 billion, exceeding 97.2% of the plan.

The company is coordinating with Solomon Group to assess the value of human resources, material resources and energy of the Dung Quat Oil Refinery Plant. Upon completion, Solomon will provide useful information about the plant for BSR’s experts to research and seek solutions to resolve. Shell Global will base on the analysis of Solomon to propose technical solutions to improve the efficiency of processing for the plant.

The basic solutions helped to expand BSR’s income to about USD4 billion and increase its profits to VND8.663 trillion.

In 2018, BSR sets target of earning a revenue of VND78.39 trillion, contributing over VND8.32 trillion to the State budget and gaining after-tax profit of over VND3.47 trillion./.

USD1 = VND23,340 according to the exchange rate of Vietcombank on August 10th