Vietnam plans to tax cryptocurrency transactions at a rate of 0.1%
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The Vietnamese Ministry of Finance has proposed a tax on crypto asset transfer transactions conducted through licensed service providers, setting the tax rate at 0.1%, which is consistent with the current stock trading tax rate. Individual investors will be required to pay a 0.1% tax based on the transaction value, while institutional investors will be subject to a 20% corporate income tax on profits gained from crypto asset transfers, calculated after deducting purchase costs and related expenses. Crypto asset transfers and transactions will be exempt from value-added tax (VAT). The draft defines crypto assets as digital assets that rely on cryptography or similar technologies for issuance, storage, and transfer verification, and proposes a statutory capital threshold of 10 trillion Vietnamese dong (approximately $408 million) for establishing digital asset exchanges, with a maximum foreign ownership cap of 49%.
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