Partner – Nguyen Danh Cong
From 27 March 2026, transactions involving crypto assets in Vietnam are subject to tax regulation, introducing several notable provisions on tax calculation mechanisms and applicable taxpayers.
The Ministry of Finance has promulgated Circular No. 32/2026/TT-BTC dated 27 March 2026, providing, for the first time, detailed guidance on tax policies applicable to the trading, transfer, and business of crypto assets.
Accordingly, three types of taxes are applicable: Value-Added Tax (VAT), Corporate Income Tax (CIT), and Personal Income Tax (PIT), in the context of the pilot implementation of the crypto-asset market under Resolution No. 05/2025/NQ-CP.
NO VAT ON CRYPTO-ASSET TRANSFERS
The Circular stipulates that the transfer and trading of crypto assets are not subject to VAT. However, related activities that do not constitute direct transfers remain subject to VAT in accordance with prevailing regulations.
For CIT purposes, enterprises established and operating under Vietnamese law are subject to a 20% tax rate on income derived from crypto-asset transfers. Taxable income is determined as the difference between the selling price and the purchase price, less deductible expenses supported by valid invoices and documents.
This tax rate also applies to enterprises providing crypto-asset services with income generated from such services.
0.1% TAX RATE PER TRANSACTION FOR INDIVIDUALS AND FOREIGN ENTITIES
The Circular introduces a simplified tax regime for individuals and foreign entities. Specifically, individuals—regardless of residency status—are subject to PIT at a rate of 0.1% on the gross transfer value per transaction.
Similarly, foreign entities conducting crypto-asset transfers through service providers in Vietnam are subject to CIT at 0.1% on gross transaction revenue.
This approach is aligned with the tax regime applicable to securities transfers, aiming to simplify tax declaration and payment procedures.
In addition, the timing for determining revenue and taxable income from crypto-asset transfers follows the rules applicable to securities transactions, ensuring consistency in tax administration.
APPLICATION DURING PILOT PERIOD
The Circular takes effect from 27 March 2026 and applies throughout the pilot period of the crypto-asset market under Resolution No. 05/2025/NQ-CP, or until superseded by subsequent regulations.
The issuance of Circular No. 32/2026/TT-BTC marks a significant step in completing the legal framework for crypto assets in Vietnam, balancing regulatory oversight with the objective of fostering a transparent and controlled market development.
Here is our article about LATEST UPDATE TO CRYPTO-ASSET TRANSACTIONS OFFICIALLY SUBJECT TO TAXATION. If you are interested or require legal support regarding electronic identification procedures for enterprises, please visit our DIMAC Website and explore the News Category to stay updated with the latest legal insights and shared market experiences.
