Official Implementation of Taxation on Crypto Assets, a Pilot Step to Bring Crypto Assets into the Legal Framework

According to Circular 32/2026/TT-BTC, from March 27, 2026, individuals engaging in crypto asset transactions are required to pay personal income tax at a rate of 0.1% on the transfer value for each transaction. This regulation applies to both resident and non-resident individuals when conducting transactions through crypto asset service providers.

Not only individuals, the Circular also clearly stipulates tax obligations for organizations participating in the market. Accordingly, domestic enterprises are subject to corporate income tax at a rate of 20% on profits derived from the transfer of crypto assets, after deducting allowable expenses. This corporate income tax rate also applies to enterprises that are crypto asset service providers, as defined in Article 3 of Resolution No. 05/2025/NQ-CP, with income derived from the provision of crypto asset services. Meanwhile, foreign organizations transferring crypto assets in Vietnam through service providers are subject to tax at a rate of 0.1% on the gross transaction value for each transaction, similar to the approach applied to individuals.

In substance, the method of applying a 0.1% tax on the transfer value for each transaction for individuals is designed similarly to the mechanism currently applied to securities transactions. Instead of taxing actual profits, the regulatory authority opts to levy tax directly on transaction turnover.

In addition, transfers and business activities involving crypto assets are not subject to value-added tax, while other related transactions that are not direct transfers will still be subject to value-added tax in accordance with current regulations.

The issuance of the Circular is regarded as an important step in addressing the legal gap in taxation of crypto assets. Previously, transactions involving crypto assets lacked specific guidance, causing difficulties for both tax authorities and taxpayers. In this context, the imposition of tax on crypto assets not only contributes to increasing state budget revenue but also represents a significant step toward bringing this market into a transparent and regulated framework.

In the long term, this policy is expected to continue to be adjusted and refined in a manner that balances state management requirements with ensuring tax equity, in line with the rapid development of the digital economy.