Vietnam to Impose 0.1% Tax on Individual Crypto Asset Transactions, Aligning with Current Stock Trading Rate

Odaily News Vietnam's Ministry of Finance has proposed imposing a tax on crypto asset transfer transactions conducted through licensed service providers, with a proposed tax rate of 0.1%, which aligns with the current stock trading tax rate. According to the policy draft released by the Ministry of Finance, individual investors, regardless of their residency status, will be required to pay a 0.1% tax on the transaction value when executing crypto asset transfers. Institutional investors' profits from crypto asset transfers will be subject to a 20% corporate income tax, calculated based on profits after deducting purchase costs and related expenses. However, crypto asset transfers and transactions will be exempt from value-added tax. It is reported that the draft also formally defines crypto assets as digital assets that rely on encryption or similar technologies for issuance, storage, and transmission verification. The proposed legal capital threshold for establishing a digital asset exchange for operational access is set at 10 trillion Vietnamese dong (approximately $408 million), with a foreign ownership cap of 49%. (Hanoitimes)