Tax Policy Requirements for the Crypto Market under Vietnam’s Resolution No. 05
Resolution No. 05/2025/NQ-CP issued by the Vietnamese government marks the official integration of crypto assets into a regulatory framework, accompanied by detailed tax governance rules (further specified and implemented under Circular 32/2026/TT-BTC and Circular 41/2026/TT-BTC by the Ministry of Finance).
1. Core Tax Category Regulations
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VAT Exemption: Transfers and transactions of crypto assets are exempt from Value Added Tax (VAT) (not subject to VAT).
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Personal Income Tax (PIT):
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Individual sellers (whether Vietnamese residents or non-residents) transferring crypto assets through licensed exchanges (CA Service Providers) are subject to a 0.1% PIT rate based on the gross transfer value of each transaction.
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Corporate Income Tax (CIT):
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Domestic Enterprises: Net gains derived from crypto asset transfers by Vietnamese domestic entities (transfer revenue minus acquisition costs and reasonable expenses) are taxed at a standard 20% CIT rate (micro, small, and medium enterprises meeting specific revenue thresholds may qualify for preferential rates of 15% or 17%).
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Foreign Enterprises: Foreign companies trading through licensed exchanges are subject to a 0.1% CIT rate based on the gross transfer value of each transaction.
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2. Exchange Tax Withholding and Compliance Requirements
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Mandatory Tax Withholding: Licensed crypto asset service providers (exchanges) act as withholding agents. They must withhold taxes at the source (PIT / CIT) for individual investors and foreign enterprise investors upon order execution and file/remit these payments monthly to the tax authority.
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Certificates and Documentation: Exchanges must issue annual tax withholding certificates/proofs of payment to taxpayers whose funds were withheld.
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Local Currency Settlement Principle: All transaction fee settlements, tax declarations, and fiat on/off-ramp operations related to crypto assets must be processed exclusively in Vietnamese Dong (VND).