Hoa Phat Group contributed over VND5.2 trillion to the State budget in H1

In the first 6 months of 2021, Hoa Phat Group's contribution to the State budget reached over VND5.2 trillion, an increase of 88 per cent over the same period last year. The group made the highest contribution to the State budget of Quang Ngai, Quang Ninh, Hai Duong, Hung Yen and Hai Phong, including customs duties and all kinds domestic taxes.

Despite being affected by the COVID-19 pandemic, Hoa Phat Group has implemented many effective solutions to ensure safety, maintain stable production and business. In the first half of the year, Hoa Phat Group produced more than 4 million tonnes of crude steel, representing 55 per cent year-on-year increase. Sales of steel products reached nearly 4.3 million tonnes, up more than 60 per cent over the same period last year. The agricultural and real estate sectors also maintained growth. Therefore, the group’s contribution to the State budget also increased sharply compared to last year.

Hoa Phat Group contributed over VND5.2 trillion to the State budget in H1

Hoa Phat Group contributed VND3.27 trillion to the State budget of Quang Ngai Province. Of which, the value-added tax (VAT) on imported goods, import and export tax (customs tax) was VND3.17 trillion, accounting for more than 95 per cent of total while the remaining came from the domestic tax.

The group also made a relatively high contribution to the State budget in some other localities. Hoa Phat's contribution in Quang Ninh Province reached VND535 billion, three times higher than the same period last year, mainly due to VAT on imported goods. In Hai Duong Province, by the end of June, Hoa Phat Hai Duong Steel Joint Stock Company contributed VND438 billion to the State budget, up 14.6 per cent over the same period last year, corporate income tax alone was nearly VND300 billion.

With over 25,000 employees, Hoa Phat Group operates in four industries including Steel - Steel Products - Agriculture - Real Estate. Hoa Phat has not only made an increasing contribution to the State budget, but also actively implemented social responsibility. In the first 6 months of 2021, the group has supported ministries and localities over VND100 billion in the prevention of the COVID-19 pandemic.

Hong Hanh