The Ministry of Finance is collecting feedback on a draft Circular that outlines tax policies for crypto asset transactions, transfers, and trading.

Under the draft, crypto asset transfers and trading are exempt from value added tax. However, individual investors, regardless of residency, must pay a personal income tax of 0,1% on the revenue from each transfer. This rate mirrors the tax calculation method used for securities transactions.

For institutional investors established in Vietnam who earn income from crypto asset transfers, the corporate income tax rate is 20%. Taxable income from crypto asset transfers is determined by subtracting the purchase price and related transfer costs from the selling price.

A crypto asset is a type of digital asset that uses cryptographic or digital technology for authentication during its creation, issuance, storage, and transfer.

Vietnam's crypto asset market will be officially piloted for 5 years, commencing from September 2025. The offering, issuance, trading, and settlement of crypto assets must be conducted in Vietnamese Dong (VND).

Before a dedicated tax policy, crypto asset transfers and trading were taxed similarly to securities.

Pilot activities in the crypto asset market include: offering and issuing crypto assets, organizing trading markets, and providing services. The pilot implementation of this market adheres to principles of caution, control, safety, transparency, and protection of the legal rights and interests of participating organizations and individuals.

Regulations stipulate that businesses need a minimum charter capital of 10,000 billion VND to establish a digital asset exchange. This figure is three times higher than the minimum charter capital for a commercial bank and about 33 times higher than for an airline company. Foreign investors can hold a maximum of 49% of the capital.

Phuong Dong