TAX POLICIES ON CRYPTO ASSETS UNDER CIRCULAR NO. 32/2026/TT-BTC EFFECTIVE FROM MARCH 27, 2026

On March 27, 2026, the Ministry of Finance issued Circular No. 32/2026/TT-BTC providing guidance on tax policies applicable to transactions, transfers, and business activities involving crypto assets. This Circular took effect on March 27, 2026, and includes several notable points as follows:

1. Value-Added Tax (VAT) Policy

The transfer and trading of crypto assets are not subject to value-added tax.

2. Corporate Income Tax (CIT) Policy

• Investors that are organizations established and operating under Vietnamese law and earning income from the transfer of crypto assets are subject to corporate income tax at a rate of 20%, except for cases specified in Clause 2 and Clause 3, Article 10 of the Law on Corporate Income Tax No. 67/2025/QH15.
• Investors that are organizations established under foreign law and conducting crypto asset transfer activities through crypto asset service providers are subject to corporate income tax at a rate of 0.1% on the transfer revenue per transaction.

3. Personal Income Tax (PIT) Policy

Individual investors (regardless of residency status) engaging in crypto asset transfers through crypto asset service providers are subject to personal income tax at a rate of 0.1% on the transfer value per transaction.

4. Timing for Revenue and Income Determination

The timing for determining revenue and income from crypto asset transfers shall follow the regulations of corporate income tax law and personal income tax law regarding the timing for determining revenue and income from securities transfers, as well as regulations on crypto assets.

5. Effectiveness

Circular No. 32/2026/TT-BTC took effect on March 27, 2026, and shall be implemented during the pilot period specified in Clause 2 and Clause 3, Article 18 of Resolution No. 05/2025/NQ-CP, or until official tax policies for the crypto asset market in Vietnam are issued as provided in Clause 9, Article 4 of Resolution No. 05/2025/NQ-CP.