The Ministry of Finance has officially issued Circular No. 32/2026/TT- BTC dated March 27, 2026, guiding the application of VAT, corporate income tax, and personal income tax on transactions, transfers, and trading of crypto assets.
This is the first time there have been specific regulations outlining the tax collection mechanism for cryptocurrency transactions.
According to regulations, the transfer and trading of crypto assets are not subject to value-added tax (VAT). However, other related activities that do not involve direct transfer are still subject to VAT obligations according to current regulations.
Regarding corporate income tax (CIT), organizations established and operating under Vietnamese law that earn income from the transfer of crypto assets will be subject to a tax rate of 20% . Taxable income for the period is determined by subtracting the purchase price and related transfer costs with invoices and supporting documents from the selling price.
This corporate income tax rate also applies to businesses that are organizations providing crypto asset services as stipulated in Article 3 of Resolution No. 05/2025/NQ-CP and have income from providing crypto asset services.
Meanwhile, foreign organizations that transfer crypto assets through service providers will be subject to a corporate income tax rate of 0.1% on the revenue of each transaction.
For individuals (regardless of whether they are residents or non-residents), the tax policy is designed to simplify the process by applying a tax rate of 0.1% on the transfer value per transaction , regardless of whether the individual is a resident or non-resident. This approach is similar to the tax collection mechanism for securities transfers, aiming to facilitate declaration and payment.
Circular No. 32/2026/TT- BTC also clarifies the timing of revenue and income determination. Accordingly, the timing of revenue and income determination from the transfer of crypto assets is carried out similarly to the provisions of corporate income tax and personal income tax laws regarding securities transfers and laws on crypto assets.
This policy takes effect from March 27, 2026, and will be applied during the pilot period of the cryptocurrency market as stipulated in Article 18 of Resolution No. 05/2025/NQ-CP, or until an official policy replaces it.
The issuance of Circular 32 is considered an important step in perfecting the legal framework for digital assets in Vietnam, ensuring both tax management requirements and creating a foundation for the transparent and sustainable development of the market in the future.
Circular 32 established a legal framework for taxation of transactions, transfers, and trading of crypto assets in Vietnam, in the context of this market being piloted under the government's policy. The clear definition of the three applicable taxes has brought a new sector under official regulation.
Source: Economic and Financial Magazine
