Vietnam is preparing to introduce a tax framework for cryptocurrency transactions that would align digital assets with securities trading, according to a draft policy circulated by the Ministry of Finance.
Under the proposal, individuals transferring crypto assets through licensed service providers would face a 0.1% personal income tax on the value of each transaction, local outlet The Hanoi Times reported. The structure mirrors the levy currently applied to stock trades in the country.
According to the report, the draft circular, released for public consultation, classifies crypto transfers and trading as exempt from value-added tax.
However, the turnover-based tax would apply to investors regardless of residency status whenever a transfer is executed.
Companies operating in Vietnam would be taxed differently. Institutional investors earning income from crypto transfers would be subject to a 20% corporate income tax, calculated on profits after deducting purchase costs and related expenses, per the report.
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