Vietnam to Impose Tax on Individual Cryptocurrency Transactions, Proposed Rate Set at 0.1%
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Vietnam to Impose Tax on Individual Cryptocurrency Transactions, Proposed Rate Set at 0.1%
According to HanoiTimes, Vietnam’s Ministry of Finance has proposed imposing a tax on cryptocurrency transfer transactions conducted through licensed service providers, with the proposed tax rate set at 0.1%—matching the current stock trading tax rate. Under the draft policy, individual investors—regardless of residency status—must pay a 0.1% tax on the transaction value when executing cryptocurrency transfers. Meanwhile, institutional investors’ profits from cryptocurrency transfers will be subject to a 20% corporate income tax, calculated on net profit after deducting acquisition costs and related expenses. However, cryptocurrency transfers and trading activities will be exempt from value-added tax (VAT). The draft also formally defines “cryptocurrency assets” as digital assets whose issuance, storage, and transmission verification rely on cryptography or similar technologies. It sets the minimum statutory capital requirement for operating a digital asset exchange at 10 trillion Vietnamese dong (approximately USD 408 million) and caps foreign ownership at 49%.
Navigating Web3 tides with focused insightsTechFlow News, February 7: According to HanoiTimes, Vietnam’s Ministry of Finance has proposed taxing cryptocurrency transfer transactions conducted via licensed service providers at a rate of 0.1%—matching the current tax rate applied to stock trading. Under the draft policy, individual investors—regardless of their residency status—must pay a 0.1% tax on the transaction value for each cryptocurrency transfer. Institutional investors’ profits from cryptocurrency transfers will be subject to a 20% corporate income tax, calculated on net profit after deducting purchase costs and related expenses. However, cryptocurrency transfers and trading will be exempt from value-added tax (VAT).
The draft also formally defines “cryptocurrency assets” as digital assets whose issuance, storage, and transmission verification rely on cryptographic or similar technologies. It proposes a statutory minimum capital requirement of 10 trillion Vietnamese dong (approximately USD 408 million) for operating a digital asset exchange, with a foreign ownership cap of 49%.
