Overview
- Under the draft, each transfer on licensed platforms would be taxed at 0.1% of the transaction value, even when a trade results in a loss.
- The levy would apply to individual investors, including non-residents, and to foreign institutions that move crypto through Vietnamese service providers.
- Crypto trading would remain exempt from value-added tax, while domestic companies would owe a 20% corporate income tax on net trading profits after deductions.
- The proposal fits into a five-year pilot that requires settlement in Vietnamese dong, with the State Securities Commission now accepting exchange licenses that demand VND 10 trillion in capital and cap foreign ownership at 49%.
- Officials are soliciting feedback before finalizing the rules, as market participants warn of potential liquidity reductions and others say clearer regulations could draw institutional capital.