The Ministry of Finance has issued Circular 32, providing guidance on Value Added Tax (VAT), Corporate Income Tax (CIT), and Personal Income Tax (PIT) for crypto asset transactions, transfers, and trading.
This guidance follows the Government's Resolution 05/2025/NQ-CP regarding the pilot crypto asset market in Vietnam.
According to the new regulations, crypto asset transfers and trading activities are classified as not subject to VAT. Other related activities not falling under this category will continue to be governed by existing VAT legislation.
Regarding Corporate Income Tax, domestic institutional investors (entities established and operating under Vietnamese laws) that generate income from crypto asset transfers must pay tax at a rate of 20%. Taxable income is calculated as the selling price minus the purchase price and any relevant valid expenses. The same 20% tax rate applies to businesses providing crypto asset services.
Notably, foreign institutional investors established under foreign laws who transfer crypto assets through service providers in Vietnam will be subject to a tax rate of 0.1% of the revenue from each transaction.
For individual investors, regardless of their residency status, income from crypto asset transfers will be subject to Personal Income Tax at a rate of 0.1% of the transfer price per transaction.
The Circular also specifies that the timing for determining revenue and taxable income from crypto asset transfers will follow the same regulations currently applied to securities transfers.
Circular 32 took effect on March 27, 2026. It will remain in force throughout the pilot phase of the crypto asset market under Resolution 05/2025/NQ-CP, or until official tax policies for this sector are formally enacted.
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