Vietnam Proposes Crypto Tax Law in Major Push to Formalize the Market
Vietnam's Ministry of Finance has unveiled a draft framework to tax cryptocurrency transactions at 0.1% of turnover, mirroring the treatment of securities trades. The proposal signals a concerted effort to bring regulatory clarity to a market previously governed by interim rules.
The tax applies to transfers and trading activities conducted through licensed platforms, irrespective of profit or loss. Notably absent is a value-added tax, potentially easing the burden on traders compared to traditional commercial activities.
Corporate entities dealing in digital assets WOULD face separate income tax provisions under the new regime. This move represents an evolutionary step rather than a radical departure, building upon existing stock market taxation precedents.
