$BTC $ETH $BNB #BTCvsETH #ETHBreaks3700 #StablecoinLaw #NFTMarketWatch #StrategyBTCPurchase The Ministry of Finance proposes to apply a tax rate of 0.1% on the transfer value of each digital asset transaction, similar to securities.
In the draft Personal Income Tax Law (replacement), the Ministry of Finance proposes that income from the transfer of digital assets (including virtual assets and cryptocurrencies) will be subject to tax. The condition for application is that buying and selling occurs on exchanges that manage transparent and public pricing with regular frequency.
The proposed tax rate is 0.1% on the transfer value of each transaction, similar to what is currently applied to securities.
According to a report by Triple-A in 2024, over 20% of Vietnam's population owns digital assets (crypto). Vietnam is also among the top three countries in terms of crypto adoption according to data from analysis company Chainalysis, with a penetration rate 3-4 times higher than the global average.
Previously, the trading and ownership of digital assets did not have a clear legal framework. However, the Digital Technology Industry Law, enacted by the National Assembly in June and effective from January 1, 2026, first defines digital assets as property under current civil law. This is also the basis for tax authorities to apply corresponding tax policies. Before this, according to representatives of the Tax Policy Management and Supervision Department (Ministry of Finance), when digital assets are traded and sold like any other type of asset, authorities will collect taxes as stipulated. The types of taxes that may be calculated include value-added tax (VAT), corporate income tax, personal income tax, etc.
In addition to digital assets, in this amendment of the law, the Ministry of Finance also includes several items in the other income group for personal income tax. For example, income from the transfer of Vietnam's national internet domain names, emissions reduction certificates, carbon credits, and green bonds. Income from the transfer of auctioned license plates along with the auctioned vehicles will also be subject to tax.
Accordingly, the income tax rate is determined by taxable income multiplied by a rate of 5% - similar to income from royalties and franchise fees currently. Taxable income is the amount exceeding 10 million VND that the taxpayer receives for each occurrence.
