Vietnam’s 0.1% Crypto Tax Proposal: A Droll Detour into Taxation

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Well, it appears that Vietnam’s Ministry of Finance has decided that cryptocurrency trading has been enjoying far too much freedom. They’ve now proposed a delightful little draft circular that will firmly place this digital frolic under the tax net, proposing a securities-style framework that prescribes a flat 0.1% personal income tax on every crypto transfer. How charmingly quaint, while leaving value-added tax completely off the guest list!

Vietnam’s Crypto Market Pilot Adds a Dash of 0.1% Personal Income Tax

According to a rather riveting report from the publication Vietnam Investment Review (VIR), individuals who dare to trade crypto through licensed platforms will now pay a 0.1% personal income tax on the gross value of each transfer-regardless of whether they’re making a fortune or throwing their money into the digital abyss. A splendidly simple mechanism, reminiscent of taxing stock transactions, which ensures the government collects its dues trade by trade, without the fuss of profit-based calculations. Who needs complexity, anyway?

Now, for our institutional friends, they’re in for a treat. Companies reaping rewards from crypto transfers will be subject to a hearty 20% corporate income tax on net profits-oh, but only after deducting purchase costs and all related expenses, including the inevitable trading fees. In essence, retail gets a breezy toll booth, while institutions are handed an accounting gymnasium. How absolutely delightful!

Interestingly, the VIR report, penned by none other than the illustrious Thai An, states that the draft conveniently exempts crypto transfers from value-added tax. They’ve classified these transfers as financial services, not goods or consumer services. A wonderful bit of clarity that avoids the dreaded double taxation-truly a move likely to be applauded by the active traders among us.

This charming tax plan is just one piece of a broader five-year crypto market pilot launched in September 2025, which limits trading to licensed platforms and insists that all settlements be conducted in Vietnamese dong. Exchanges hoping to join the merry band must face steep requirements, including a minimum charter capital of 10 trillion Vietnamese dong-approximately $408 million-and a 49% cap on foreign ownership. How delightfully exclusive!

In a bold display of governmental finesse, Vietnam’s proposal aims to bring transparency and oversight to a market already bursting with retail enthusiasm yet operating in a rather murky regulatory gray zone. By treating crypto like stocks, officials seem convinced that these low rates will encourage compliance rather than send traders scampering offshore. Oh, the optimism!

Public consultation on this draft is currently underway, as policymakers polish the rules before the final curtain call. If enacted, this framework would mark one of Southeast Asia’s more structured attempts to integrate crypto trading into the formal financial system-light on theatrics, heavy on bookkeeping, and unapologetically transactional. How utterly thrilling!

FAQ 🇻🇳

  • What tax rate does Vietnam propose for crypto trades?
    The draft circular sets a flat 0.1% personal income tax on the value of each crypto transfer executed by individuals.
  • Does the proposed tax apply to profits or transaction value?
    The tax is based on transaction value, meaning it applies even if a trade is utterly unprofitable. Quite the gamble, isn’t it?
  • Are crypto transactions subject to VAT in Vietnam under this plan?
    No, crypto transfers would be exempt from value-added tax. A rare moment of relief!
  • Who collects the tax under the proposal?
    Licensed crypto platforms would apply and collect the tax on behalf of the authorities. It seems everyone has a role to play in this theatrical production!

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2026-02-07 20:03