Vietnam’s Ministry of Finance has proposed a 0.1% tax on turnover for each crypto-asset transfer conducted through platforms operated by licensed service providers, under a draft circular released for public consultation, The Hanoi Times reported.
Under the draft framework, crypto-asset transfers and trading would be treated as non-taxable for value-added tax (VAT) purposes, the report said, but individual investors, regardless of residency status, would face personal income tax of 0.1% of transaction turnover per transfer, mirroring the treatment currently applied to securities trading.
For institutional investors established in Vietnam that earn income from crypto-asset transfers, the proposal sets corporate income tax at 20%, with taxable income calculated as the selling price minus the purchase price and expenses directly related to the transfer, according to the report.
It added that the draft defines crypto assets as digital assets using cryptographic or digital technology for verification across creation, issuance, storage, and transfer.
The proposed tax framework comes as Vietnam proceeds with a five-year pilot of an officially sanctioned crypto-asset market that began in September 2025, The Hanoi Times said.
During the pilot, the offering, issuance, trading and payment of crypto assets must be conducted in Vietnamese dong, the report added.
Before the development of a dedicated tax regime, crypto-asset transfers and trading have been taxed in the same way as securities transactions, The Hanoi Times reported, adding that the pilot covers activities including the offering and issuance of crypto assets, the organization of trading markets and service provision.
The draft rules also include high market-entry thresholds: enterprises would need minimum charter capital of 10 trillion dong (about $408 million) to establish a digital asset exchange, while foreign investors would be allowed to hold up to 49% of equity in such exchanges, according to the report.
By exempting crypto transfers from VAT while applying a low turnover-based levy akin to stock trading, Vietnam appears to be aiming for a simple, enforceable tax base during the pilot phase.
However, the proposed capital floor for exchanges suggests authorities are prioritising tight control and well-capitalised operators over rapid market entry, which could limit competition and slow the pace of formal adoption.