On December 26, 2025, the Department of Tax, Fee and Charge Policy Management and Supervision under the Ministry of Finance issued Official Letter No. 2759/CST-GTGT regarding tax policies for foreign currency sale activities of enterprises. The details are as follows:
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1. Regarding Corporate Income Tax (CIT)
- Income Classification: Income from foreign currency sales (excluding credit activities of credit institutions) is officially classified as “Other Income.” This regulation applies to the 2025 tax period, with the effective date starting from October 1, 2025.
- Method of Determination: Income from this activity is calculated as the total proceeds from the sale of foreign currency minus the total purchase price or the total cost of the amount of foreign currency sold.
2. Regarding Value Added Tax (VAT) and Invoicing Obligations
For ordinary manufacturing, trading, and service enterprises (which are not credit institutions or authorized foreign exchange agents) that convert foreign currency derived from export revenues or service payments at commercial banks:
- Taxable Objects: Foreign exchange rate differences arising from these transactions are not subject to VAT regulations.
- Invoicing: Enterprises are not obligated to issue invoices for this activity. According to Decree No. 123/2020/ND-CP (as amended by Decree No. 70/2025/ND-CP), this is not considered a sale of goods or a provision of services.
