Mondelez Kinh Do paid VND600 billion of taxes due to it franchise

Mondelez Kinh Do (Kido) paid taxes VND hundreds of billions due to their franchise last year.

Mondelez Kinh Do or Kido Corporation paid tax VND 600 billion after the franchise of Kinh do to their foreign partner. It means that State budget will increase if other Vietnam M&A in 2016 are successful.

According to Saigon Times, Ms. Le Thi Thu Huong, Deputy Director of Tax Department of HCMC, said that tax payment of Kido was completed in the early of 2016 and based on the tax rate of the enterprise’s income in 2015 to calculate (22% of earnings rise). In future, if other M&A like Big C Vietnam or Lazada Vietnam also achieve the final agreements, the State Budget will receive the significant revenue.

In recent, tax agencies have gained a lot of money from taxes of the transfer of capital and brand. Especially, in last year, they received VND 1,900 billion from the M&A of Metro Cash & Carry when Metro supermarket chain was sold to a Thailand company.