Vietnam Draft Rules Propose 0.1% Tax on Crypto Transfers

A draft policy circulated by the Ministry of Finance would bring cryptocurrency transactions under a tax framework aligned with securities trading. Individuals transferring crypto through licensed service providers would face a 0.1% personal income tax on the value of each transaction, mirroring the levy applied to stock trades.

The draft circular, released for public consultation, treats crypto transfers and trading as exempt from value-added tax. The turnover-based tax would apply whenever a transfer is executed, regardless of an investor's residency. Companies would face different treatment: institutional investors earning income from crypto transfers would be subject to a 20% corporate income tax on profits, calculated after deducting purchase costs and related expenses.

The document also defines crypto assets as digital assets that rely on cryptographic or similar technologies for issuance, storage and transfer verification, and sets strict requirements for operators.

Vietnam