AB InBev Vietnam among firms in tax review targeting prolonged losses

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According to the Tax Department, the company falls within the group of enterprises reporting prolonged losses and thin margins, which have been prioritised for specialised inspections under Official Letter No.1927/CT-KT-TK dated March 31, 2026.

The directive requires tax authorities to intensify monitoring of such businesses, focusing on the accuracy and completeness of tax declarations, as well as potential irregularities in financial reporting. Enterprises included in the list will be subject to risk-based assessment, data review, and, where necessary, on-site inspections.

As part of the inspection framework, local authorities are expected to examine factors including cost structures, related-party transactions, and revenue recognition practices, particularly in cases where financial performance does not align with operational scale.

The inclusion of AB InBev Vietnam in the inspection list reflects the tax authority’s broader focus on large-scale enterprises with sustained loss-making positions, amid concerns over potential risks of tax base erosion and misreporting. Under the 2026 inspection plan, tax agencies are required to complete detailed reviews and report outcomes, including any additional tax liabilities and penalties, by the end of the year.

Anheuser-Busch Inbev Vietnam is a subsidiary of Anheuser-Busch InBev, the world’s largest brewer, which owns global brands such as Budweiser, Corona, and Stella Artois.

In Vietnam, the company operates in the premium and super-premium beer segments, focusing on major urban centres and modern trade channels. The market is classified by the parent group as a long-term growth market in Asia, alongside China and India, according to its annual report. The group’s annual report does not provide a separate breakdown of financial performance for Vietnam, with the market included within its broader Asia-Pacific segment.

This contrasts with the group’s global performance, where growth has been supported by premiumisation and pricing rather than volume expansion. This comes as the group’s global growth has been driven primarily by premiumisation and pricing, rather than volume expansion, with revenue per hectolitre increasing and volumes declining by around 2.3 per cent in 2025, according to Anheuser-Busch InBev’s full-year results.

Anheuser-Busch Inbev Vietnam, which operates two breweries in Vietnam, marked its 10^th year in the market in 2025.