The Ministry of Finance has issued Circular No. 32/2026/TT-BTC dated 27 March 2026, providing detailed guidance on value-added tax (VAT), corporate income tax (CIT), and personal income tax (PIT) applicable to transactions, transfers, and business activities involving crypto assets. The Circular takes effect from its issuance date, 27 March 2026.
Key tax highlights:
- VAT: Transfers and trading of crypto assets are classified as non-VATable transactions.
- CIT:
- Organizations (i.e., Vietnamese corporate investors) deriving income from the transfer of crypto assets are subject to CIT at the standard rate of 20%, except for specific cases as prescribed. Taxable income is determined as the selling price less the purchase price and related expenses supported by valid invoices and documentation.
- Enterprises providing crypto-asset-related services are also subject to CIT at 20% on income generated from such activities, unless otherwise specified.
- Foreign organizations conducting crypto-asset transfers through service providers in Vietnam are subject to CIT at a deemed rate of 0.1% on the gross transfer value per transaction.
- PIT: Individuals (regardless of residency status) transferring crypto assets through service providers in Vietnam are subject to PIT at a rate of 0.1% on the transfer value per transaction.
