Report: Vietnam Proposes 0.1% Crypto Transaction Tax Under Securities-Style Rules

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

Under the proposal, reported on by the publication Vietnam Investment Review (VIR), individuals trading crypto through licensed platforms would pay a 0.1% personal income tax on the gross value of each transfer, regardless of whether the trade results in a gain or loss. The mechanism mirrors Vietnam’s existing tax on stock transactions, favoring simplicity over profit-based calculations and ensuring the government collects revenue trade by trade.

Institutional players would be treated differently. Companies earning income from crypto transfers would be subject to a 20% corporate income tax on net profits, calculated after deducting purchase costs and directly related expenses, including trading fees. In short, retail gets a flat toll booth, while institutions face the full accounting workout.

Notably, the VIR report authored by Thai An states that the draft explicitly exempts crypto transfers from value-added tax, classifying them as financial services rather than goods or consumer services. That carve-out removes a layer of complexity and avoids double taxation, a move likely to be welcomed by active traders.

The tax plan sits within a broader five-year crypto market pilot launched in September 2025, which limits trading to licensed platforms and requires all settlements to be conducted in Vietnamese dong. Exchanges hoping to participate face steep requirements, including a minimum charter capital of 10 trillion Vietnamese dong, roughly $408 million, and a 49% cap on foreign ownership.

VIR explains that Vietnam’s government frames the proposal as a way to bring transparency and oversight to a market that already enjoys widespread retail adoption but has operated in a regulatory gray zone. By taxing crypto like stocks, officials appear to be betting that low rates will encourage compliance rather than drive activity offshore.

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Public consultation on the draft is ongoing, with policymakers expected to refine the rules before final adoption. If enacted, the 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.

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 unprofitable.
• Are crypto transactions subject to VAT in Vietnam under this plan?
  No, crypto transfers would be exempt from value-added tax.
• Who collects the tax under the proposal?
  Licensed crypto platforms would apply and collect the tax on behalf of authorities.