In the draft of the revised Personal Income Tax Law, the Ministry of Finance proposes to tax income from the transfer of digital assets (including virtual and crypto assets). This applies to transactions on exchanges with transparent management, publicly disclosed prices, and regular trading frequency.

The proposed tax rate is 0.1% of the transfer value of each transaction, similar to the current rate for securities.

According to a 2024 Triple-A report, over 20% of Vietnam's population owns crypto assets. Vietnam is also among the top three countries in the crypto adoption index according to Chainalysis, with crypto popularity three to four times higher than the global average.

Previously, trading and owning digital assets lacked a clear legal framework. However, the Law on Digital Technology Industry, enacted by the National Assembly in June and effective from 1/1/2026, defines digital assets as property under current civil law for the first time. This provides a basis for tax authorities to apply corresponding tax policies. A representative of the Tax Policy Management and Supervision Department (Ministry of Finance) previously stated that when digital assets are traded as a type of property, authorities will collect taxes according to regulations. These taxes may include value-added tax (VAT), corporate income tax, and personal income tax.

In addition to digital assets, the Ministry of Finance also includes other income sources in this revised law for personal income tax. These include income from transferring Vietnamese national internet domain names, emission reduction certificates, carbon credits, and green bonds. Income from transferring license plates of auctioned automobiles, along with the vehicles bearing those plates, will also be taxed.

The income tax is determined by multiplying taxable income by a 5% tax rate, similar to the current rate for copyright and franchise income. Taxable income is the portion exceeding 10 million VND received by the taxpayer per transaction.

Phuong Dung